The value of the Euro, Pound, Dirham, and Riyal has also declined significantly on the open market, following the US Dollar.
The Euro has decreased by Rs 8 to Rs 305, the Pound has decreased by Rs 13 to Rs 355, the Dirham has decreased by Rs 6.30 to Rs 72.70, and the Rial has decreased by Rs 3.70 to Rs 71.70, according to media sources.
The dollar, on the other hand, ended the interbank trading session at 275 rupees 44 paise, down 10 rupees 55 paise.
Read More: Rupee’s Record-Breaking Run Against US Dollar Continues
Additionally, according to Malik Bustan, the interbank rate for a dollar might range from 260 to 270 rupees.
He claimed that importers were purchasing dollars through Hawala Hindi as a result of the government’s bad policies, which had inflated the value of the dollar.
He claimed that because traders have begun selling dollars, the value of the greenback in the interbank market can currently range between Rs 260 and Rs 270.
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