The Pakistani rupee fell by Rs. against the US dollar during interbank trade on Monday extending its losses from the previous week . The local currency closed at Rs. rising by . rising by Rs . from the last weeks close of Rs. according to data shared by the Exchange Companies Association of Pakistan ECAP .
In the open market the dollar was changing hands for Rs. Rs. In the greenback, the local currency was exchanging for $1,000 . The currency dealer blamed the losses on mafias of speculation and manipulation . He said the Shehbaz Sharifled government had left all matters to the caretaker setup .
The grey market has skyrocketed to a point never seen before in the past years . It seems like contradictory government policies are creating this situation. It is time we restructure deregularise and streamline things Paracha stressed. Zafar Paracha told Dawn.
com’s Paracha stated. It seems as if there was both economic and political uncertainty in the country. He further said that there is both political and economic uncertainty in Pakistan. It was time we need to restructure, Paracha said. It seemed as if a grey market had been deliberately developed facilitated and promoted.
The earning in the grey market was never seen to be ever seen before. It appears like contradictory Government policies are created. Paracha. He said. He stated. There is a lot of conflicting government policies were creating this. It appeared as if it seemed as If it seems as If there was a lack of a greymarket.
It has been an economic and Political uncertainty. It’ was a problem. It would be a problem for the country’.
