Business

KARACHI – The US dollar continues to weaken in the open market as it lost Rs4 on the first trading day of the week to reach Rs121, local media reported.

A stability in the Pakistani rupee is being observed after the General Elections 2018 ended all speculations of delay in polls and other government systems.

In the interbank market, the dollar also shed over Rs5 and currently, it is being traded at Rs122.5, decreasing the burdens of Pakistani debts by Rs450 billion.

End of political uncertainty following elections was attributed as the main factor in the significant drop in the greenback’s price, which had soared as high as Rs130 in the past week.

The strengthen rupee would be a reason for a decrease in the prices of petroleum products, eatables, dairy products, mobile charges, transport and vehicles.