KARACHI: The dollar is showing diminishing trend continuously in comparison to Pakistani rupee since past few days; on Saturday US dollar traded at the rate of as low as Rs 123.5 in the open market.
It is pertinent to mention here that the currency market on Saturday opened with US dollar being traded at Rs. 127.5, which later in the day went down to be traded at Rs. 123.5.
The currency market is now witnessing the trend in which the US dollar is losing its worth against Pakistani rupee, and there is abundant trading of US dollar in the open market.
The positive economic indicators are considered to be largely driven by what investors consider the return of political stability following the July 25 polls.
The national debt will decline by Rs450 billion as the rupee consolidates gains against the greenback.
On Saturday, the US dollar had depreciated by Rs4 in the open market. The positive development was attributed to the end of political uncertainty following elections.
In the past week, the greenback’s price had soared as high as Rs130 as Pakistan moved to its second democratic shift of power amid security threats and terrorist attacks in different parts of the country.
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