Rupee free fall continues despite govt assurances of economic stability

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KARACHI (PEN) – Amid the political uncertainty in the country due to PTI’s landslide triumph in make-or-break Punjab by-elections, the Pakistani rupee nosedive continued and dropped to a record low.

According to details, the greenback was being traded around Rs228 in interbank after appreciating by Rs3.08 compared to previous close of Rs224.92 on Wednesday.

Meanwhile, in open market, the dollar gained Rs3 and was being traded around Rs229.5

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A day earlier, the dollar also gained RS2.93 and appreciated by about 1.30% against the local currency.

Finance Minister has said that dollar has appreciated against other currencies of the world as well; he however said the recent dip of rupee against dollar was due to the political situation in the country.

He said the situation will move towards normalization after improvement in political situation in the next few days.

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