Value of US dollar suddenly drops in interbank

Karachi: A sudden drop in the value of US dollar has been experienced against Pakistani rupee in interbank on Friday.

At the opening of business on Friday, the dollar saw a sharp drop in the value of the interbank currency with dollar depreciating by Rs13.93 to settle at Rs285. It is expected to get devalued even more.

Earlier on Thursday, during the business the value of the dollar increased and went up to Rs299 in the blink of an eye.

Sources told that due to political instability some banks artificially hyped the demand of dollar in the market against whom government and State Bank of Pakistan (SBP) are planning some action.