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Supreme Court’s decision in favor of imran khan gives blow to the US dollar on Friday

Supreme Court’s decision in favor of imran khan gives blow to the US dollar on Friday

ISLAMABAD: The decision of the Supreme Court in favor of PTI chairman and former prime minister Imran Khan gave a big blow to the value of the US dollar on Friday.

The US dollar lost its around around 14 rupees in the inter-bank trading versus the Pak rupee on Friday morning.

On Wednesday and Thursday, the greenback edged up by 14 rupees and hit Rs 298 in the wake of the arrest of Imran Khan.

However, on Thursday evening, the three-member bench of the Supreme Court gave a relief to Imran Khan and termed his arrest from the Islamabad High Court illegal and against the sanctity of the judiciary.

Resultantly, the value of dollar fell 14 rupees in the inter-bank by 10:30 am on Friday. The dollar-rupee value fluctuated to around 284 rupees as against 298 rupees a day earlier in the inter-bank trading.

On Thursday, the dollar-rupee parity hit 300 rupees for the first time and it closed at 298 rupees in the inter-bank.

On Friday, former prime minister Imran Khan is appearing in the Islamabad High Court to get bail in multiple cases.

Meanwhile, former PM Imran Khan has called his supporters in Islamabad (in G-10 area) near the Islamabad High Court to address them after appearing in the court.

Pakistan Tehreek-e-Insaf (PTI) has called its supporters to gather in the federal capital, where former prime minister Imran Khan will address them after appearing before IHC today.

This follows the IHC’s decision to grant bail to the chairman in the Al-Qadir Trust case.

PTI tweeted on its official handle:

“Thousands of peaceful Pakistanis from across the country will gather at Srinagar Highway G-13 Islamabad this morning to express solidarity with Chairman Tehreek-e-Insaf Imran Khan.”

The National Accountability Bureau (NAB) had previously detained Chairman Imran Khan in connection with the Al-Qadir Trust case, which sparked violent protests across the nation.

According to a tweet, Khan will address his supporters after his appearance at the court.

Javed Mahmood
Written By

I am an experienced writer, analyst, and author. My exposure in English journalism spans more than 28 years. In the past, I have been working with daily The Muslim (Lahore Bureau), daily Business Recorder (Lahore/Islamabad Bureaus), Daily Times, Islamabad, daily The Nation (Lahore and Karachi). With daily The Nation, I have served as Resident Editor, Karachi. Since 2009, I have been working as a Freelance Writer/Editor for American organizations.

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