Dollar falls to its 16-month lowest level against rupee in Interbank
KARACHI: The devaluation of dollar continues hitting lowest level of last 16-month in the Interbank Market, ARY News reported.
The rupee managed to hold its commanding position against the dollar in both currency markets Interbank and Open Market on Friday.
According to currency dealers, the continuous decline in the value of dollar has made exporters to sale their dollars in the market.
In the Interbank Market, the rupee posted fresh gain in terms of dollar and closed at Rs 96.90 and 97.1 for buying and selling respectively.
Meanwhile, in the open bank market the dollar declined by 50 paisa against rupee and closed at Rs. 98.5 and Rs. 98.75 for buying and selling respectively.
The currency experts have predicted that the rupee might recover more ground and likely to hit high at Rs 95 versus the dollar in coming days.