PKR Gains Almost Rs3 Against the Dollar in the Interbank Market
The PKR showed a strong recovery against the dollar in the interbank market on Tuesday, gaining Rs2.92 at 9:54 am. According to the Forex Association of Pakistan (FAP), the local currency was trading at Rs219 per dollar at the time after appreciating 1.31 percent. The rupee’s recovery comes after the International Monetary Fund’s (IMF) Executive […]
How a Strong Dollar Affects the Economy and Your Wallet
“My first salary was Rs12,000 in 1996 when a dollar was equal to Rs34. The first salary in the same brokerage industry today is about Rs50,000, even though the dollar rate is higher than Rs228,” said Asif Qureshi. Asif Qureshi is the chief executive of the brokerage Optimus Capital Management. It means that the first […]