US dollar bulldozes Pakistani rupee’s ‘little resistance', up by 96 paisas
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The greenback which lost 13 paisas in the morning recovered its loss and then appreciated by 96 paisas and closed the day at Rs236.84.
In two weeks, the US dollar has gained Rs17.86 against the Pakistani currency.
The yesterday’s close of the American currency was Rs235.88 which was up Rs1.56.
Though the rupee has made a somewhat good start today, but the money dealers are of the view that unless the country achieves the political stability, reduce the current deficit, stop smuggling of dollar to neighbor countries, put a ban on non-essential luxury items, and stem speculative trading, the rupee volatility will continue and the local unit will remain under pressure.
They are also of the view that if friendly countries give promised money to Pakistan, the market sentiment will change in local currency’s favour.