Pakistani Rupee rises against the US dollar in interbank Rate .
On the third trading day of this week, the Interbank dollar rate fell 13 paisa, after which the value of the US currency in the Interbank fell to Rs 156 by 32 paisa.
On the other hand, the US dollar remained stable in the open market, unlike the Interbank, the open market closed at Rs 156 at 60 paisa.
Historically, the Pakistan Rupee reached an all time high of 163.75 in June of 2019 and a record low of 56.20 in October of 2003.
The rupee has been falling against the dollar following an agreement with the International Monetary Fund on a $6 billion loan with expected strict conditions including a “market-determined” exchange rate.
The rupee’s official exchange rate is supported by the central bank under a de facto managed float system and many analysts consider the currency to be overvalued.