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Economy

Dollar Continues to Drop: Interbank Rate Falls by Rs1.03

Interbank Rate

On Thursday, the rupee’s ongoing strengthening trend against the dollar continued, as the greenback depreciated by Rs1.03 in the interbank market.

With this latest decrease, the dollar now trades at Rs292.85.

In recent weeks, the dollar had breached the Rs300 mark in both the interbank and open markets. However, persistent efforts by authorities, including crackdowns on smuggling and tighter controls, have contributed to the steady decline in the dollar’s value.

Additionally, at the start of trading on Thursday, the stock market showed a positive trend, with the PSX 100 index gaining 65 points and reaching 45,950 points early in the day.

The rupee’s strengthening trend against the dollar persists due to government efforts, resulting in a more favorable exchange rate. Meanwhile, the stock market opens positively, showing early gains in the PSX 100 index. Overall, the rupee’s resilience against the dollar is evident as it gains strength, lowering the interbank rate.

Accountability Demand: Sanaullah Holds Bajwa And Faiz Responsible For Instability

Moreover, PML-N leader and former interior minister Rana Sanaullah has held former army chief Gen (retd) Qamar Javed Bajwa and former Inter-Services Intelligence (ISI) chief Faiz Hamid accountable for the prevailing political and economic crises in Pakistan.

In an interview with a local TV channel on Wednesday, Sanaullah labeled the former top military officials as “culprits of the nation” and demanded justice for causing political and economic instability.

Sanaullah asserted, “These people are culprits of the nation. They are culprits of not just the PML-N but also of the entire nation. Hence, we will not forgive them; we must hold them accountable for the current instability and inquire why they caused instability in 2017”.

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I am a dynamic professional, specializing in Peace and Conflict Studies, Conflict Management and Resolution, and International Relations. My expertise is particularly focused on South Asian Conflicts and the intricacies of the Indian Ocean and Asia Pacific Politics. With my skills as a Content Writer, I serve as a bridge between academia and the public, translating complex global issues into accessible narratives. My passion for fostering understanding and cooperation on the national and international stage drives me to make meaningful contributions to peace and global discourse.

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