KARACHI:. Nov 21,2022:. US dollar continues its gains against the local currency . Basically, two factors are putting pressure on the rupee. One , receding forex reserves are making the rupee stumble . Second, on-going political turmoil is pushing the local currency at the losing end.
The currency maket experts argue that the rupee will remain under pressure against US as long as the political stability does not visit Pakistan.
In Pakistan the political turmoil is at its monstrous stage . It has developed a panic in the country . Obviously , the currency market takes it seriously .
US dollar is on the gaining streak for the last two weeks. It made an increase of 20 paisa and rose to Rs 223.45 against the local unit in interbank trading on Monday. On last day of the week (Friday) , US dollar had closed at Rs 223.25.
However , US dollar made big gain in open market . It jumped up from Rs 227.25 of the last working day to Rs 227.75 on Monday.
