As market opened Wednesday, local currency gained 1.74 to trade at 223.90 during intraday trade in interbank market
KARACHI: The Pakistani rupee continued to rise against the US dollar on Wednesday for the ninth consecutive day at the interbank market.
As the market opened, the local currency gained 1.74 rupees to trade at 223.90 rupees per dollar.
The local currency gained 1.65 rupees, or 0.73 percent, to trade at 225.64 rupees against the dollar yesterday.
After Finance Minister Ishaq Dar promised to keep the dollar below 200 rupees, a trader said, “The correction in the rupee reflects the bullish sentiment of market participants.
In an interview with Hameed Mir at the "Capital Talk" rice farm of Geo News, he said: The real value of the Pakistani rupee against the dollar is less than 200, and it is currently less than valued and its value will decrease.
Dahl said the dollar was strong internationally but "will soon be below 200 against the US dollar."
He has been a staunch proponent of interventions in the currency market in his previous three jobs and is also expected to strengthen the currency, which closed at Rs 225.64 on Tuesday.
