Dollar slides down 92 paisa; bullish trend in stock exchange

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KARACHI, Might 29 (INP): The speed of greenback went down on Wednesday in opposition to the Pakistani foreign money because it has reached under Rs 150 within the interbank market.

At present, the greenback has slid down by 92 paisa in interbank market.

In the meantime, the Pakistan Inventory Alternate can also be witnessing an upward development with an addition of 951 factors in 100 index.

On Tuesday, the US greenback elevated by Rs1 within the interbank market to commerce at Rs150.50. Within the open market, the rupee additionally noticed a rise of Rs1 and was being offered at Rs151.

On Monday, the speed of US greenback went under Rs150 within the interbank market after touching historic highs final week.

Final week, the rupee constantly slid down when it reached the very best stage of Rs153 in opposition to the dollar on Might 21.

It could be famous that the rupee went into free fall following three days when PM’s adviser on Finance Abdul Hafeez Sheikh introduced the finalization of a three-year bailout with the Worldwide Financial Fund (IMF) for $6 billion.—INP

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