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Rupee recovers from historic low against Dollar

Karachi: The rupee recovered its value against the dollar two days after it hit historic high. Dollar fell back to Rs.136 during early Monday in the open market.

Before this the US dollar was trading at Rs 139.02 in the inter-bank market.

In the previous week on Friday the price of Dollar touched rs 142.4 in the interbank which is the highest so far. The sudden increase was of around Rs. 9 during trading on Friday.

Experts remarked on the latest drop of the dollar against rupee, they said it could depreciate even more in future and the appreciation phenomenon is just temporary.

The index points ion Karachi Stock Exchange also fell by 7oo points from the current 40,000 points.

The current account deficit at the moment is the reason of the appreciation of the Dollar.Ongoing talks with International Monetary Fund (IMF) will help Pakistan in terms of money value against dollar.  Pakistani officials are arguing IMF officials to bring dollar down against rupee.

On October 9, the dollar had dramatically rose to to Rs 133.64 and it was historic high of the country at that time.

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