KARACHI: Jan 30,2023:. US dollar value jumped up by Rs 6 in interbank Monday. Monday ‘s gain took US currency value to Rs 265 to a rupee.
On Friday last working day of precious week, US dollar had closed at Rs 259 (buying) .
In open market , US dollar sorry to Rs 268 (buying) today.
Since uncapping , US dollar had appreciated by Rs 34 and there seems no end to the rupee free fall in the local market .
Fast depleting Forex reserves are a cause of continued downfall of the rupee.
As present, Pakistan ‘s Forex reserves stand down to $ 3.7 billion which can only cater to need to ports of less than a month.
Shahbaz Sharif government is banking on International Monetary Fund (IMF) bailout package to get out of current economic crisis.
The government
