In an unexpected turn of events, the US dollar’s open market exchange rate has dropped below the interbank rate for the first time in a year.
Recent events have astounded currency traders and experts who regularly track the financial scene. The open market rate of the US dollar has dropped significantly, hitting values that vary between 302 to 305 Pakistani rupees (PKR). This reduction is all the more astounding given that the US dollar has been reasonably steady for quite some time.
Bostan also attributed recent favorable advances to the Army Chief. He said that task teams were constituted on the suggestion of the association to clamp down on black market agents. As a consequence of these operations, numerous members of the black market have been apprehended, while others have gone into hiding.
The task force’s activities have had a considerable influence on the exchange market. It has restored trust in the supply of exchange businesses, resulting in a more stable and safe currency exchange environment.
While the recent dip in the value of the US dollar is notable, analysts anticipate that this trend will continue. Some even expect that the value of the US dollar will continue to fall, maybe reaching Rupee Rs 300 in the near future.