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The sudden fall of US dollars against Pakistani Rupee

The dollar is continuing to lose its value against rupee dropping further 6 rupees since last two days in the open market.

In a week, the rate of dollar has reached to Rs 121.3 after dipping by Rs 7.80.

Representatives of the Forex Dealers Association have said that the confidence of business community is restored due to peaceful elections and occurrence of possible PTI government in the country.

The individuals involved in dollar stocking also prefer its sale.

At least four million dollars have been sold in open market from Friday till date which can further decline the rate of dollar, added the association.

According to a leading money changer, speculators foresee that there is a little chance that dollar would climb to new highs in short term. A selling spree was witnessed at the money changers and there were no buyers and only sellers.

There were speculations that the new government would ask support from friendly countries, donor agencies and even financial institutions to bail out the economy from the present gloom.

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