Karachi: After a bleak month, the rupee finally made a comeback against the dollar on Friday, closing at Rs185.9 in the interbank market. This development is largely associated with the Supreme Court’s decision to restore the National Assembly as well as the central bank’s decision to increase the policy rate by 2.5 percent. According to the Forex Association of Pakistan (FAP), the greenback devalued by Rs2.28 over Thursday’s close of Rs188.18 when it had reached an all-time high.

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Swvl to pause intracity services

It emerged that Swvl would be putting their transport services on pause.…

US Dollar slides ahead of central bank meetings

The US Dollar (USD) fell on Monday, dropping to a two-week low…

Apple to use 100% recycled cobalt in batteries

Apple said that it would use 100 percent recycled cobalt in all…

Failed lender Silicon Valley Bank bought by rival

The assets and loans of collapsed US lender Silicon Valley Bank (SVB)…