Dollar drops to Rs148.70 in interbank market

The value of dollar in interbank further fall to Rs148.70 in interbank market on Thursday as rupee got some potency in the money market.

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The decrease in value also reflected in the open market, forcing the dollar to drop its value by Re0.50 to Rs149.50.

As the external payments have been made, steadiness started returning to the money according to the currency dealers. The State Bank of Pakistan’s (SBP) off the record warning to commercial banks against unnecessary acquiring of the dollar also played its role in bringing the value of the greenback down, said the market sources.

Primary dealers are hopeful that rising inflow of remittances, among other factors, will further force greenback to drop its value in the currency market.

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