KARACHI: The US dollar on Friday strengthened further against the local currency, witnessing a 60-paisa increase in the interbank market. The new interbank rate for the US dollar is now Rs287.50. Forex traders attribute this ongoing rupee depreciation to the trend observed on the final trading day of the current business week. Despite the rupee’s commendable performance in September, following initiatives such as cracking down on hawala/hundi businesses and implementing short-term measures to boost the local economy, it seems unable to sustain its value against the robust US dollar.
Author: Sajjad Ali
Sajjad Ali
Sajjad Ali is ‘Online Web Editor of Khyber News. He is a journalist by profession and working in field for the last ten years. Previously he worked for national media organizations including ‘The Nation’ Daily Pakistan Today, Khyber News. He also worked in media development sector. He can be reached at sajjad.sovereign@gmail.com
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