The US Dollar gained Rs1.52 against Pakistani Rupee in the interbank on Wednesday.
According to a State Bank of Pakistan tweet, the US Dollar opened at Rs158.31 and closed at Rs159.83. The greenback gained Re1.67 against the greenback during the last three days.
Analysts believe that the fall in the value of the rupee is sentiment driven. They feel the rally is reaching its end and the dollar against the rupee has bottomed. As a result, investors are buying more dollars.
It sounds good in political terms, however in my understanding if the currency is overvalued it’s maligned, it affects our exports negatively.