Pakistani Rupee gained record 78 paisas against the US Dollar in the interbank trading on last day of the trading session and reached Rs292. The US dollar's value closed at Rs292.78 against Pakistani Rupee on Thursday. Gohar Ejaz, a federal minister, predicted that the dollar's value could drop to Rs 260 in the future. He underlined that the currency rate at the moment is Rs 260. Minister Ejaz urged those who had dollars to swap them and advised those who had US dollars to think about formalizing their holdings. Strict oversight is being used to regulate the dollar's value in order to prevent any unwarranted volatility and smuggling. In parallel, the value of the rupee has begun to show signs of improvement, primarily as a result of the declining dollar. The dollar dropped in value on the interbank market, falling one rupee and ten paisa, closing at Rs 292.78. The value of the dollar also declined on the open market, where it was traded for Rs 295.

Credit: Independent News Pakistan (INP)