Karachi The reason for this is the economic slowdown and the crisis in foreign exchange the rupee was able to fall against foreign currencies over the last week.
In the course of weekly trading during the week, the value of dollars euro, pound and rial grew in the interbank market. While on the open market, the value of dollars and rial grew, and the value of euros and pounds diminished. For the first four weeks dollars continued to rise but, after two days, the trend of the exponential increase that the currency has experienced slowed.
In the week-long business week, the interbank rate of the dollar was 239 while the open rate was the figure of Rs 244. On the market for interbank transactions the value of the dollar grew by 2.85 rupees to reach the amount of 239.71 rupees. The dollar’s value increased by 3.40 rupees to reach the amount that is 244.40 Rupees on the open market. In the same way, the exchange rate between banks of the British pound increased by Rs 1.35 to 271.66.
The open market in the open market, the British pounds fell by 12.35 to 270.65. Its value in the Euro currency was up 39 percent to 236.88 at the time of the exchange. However, its value decreased in the open market. Euro diminished by 6.6 to 237.35 on the market open. Rial’s value Rial was up by 69 paise to the value of Rs 63.71 within the Interbank Market, while Rial’s value increased by Rial was up by 40 paise to 64.90 on the market open.
The rupee grew over the past two days after the clampdown against illegal money changers during the middle of the week. In addition, the State Bank’s prohibition on cash transactions of foreign exchange of $2,000 or more by the close of the week opened the door to another decline of the rupee over the next days.
