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Pak rupee further drops to Rs117.20 in open market

Pak rupee further drops to Rs117.20 in open market

KARACHI: The US currency’s value further soared in open market but remained unchanged in interbank market on Thursday.

As per the local money market, the greenback gained 10 paisas in open market for buying at Rs116.20 and for selling at Rs117.20. It remained unchanged in interbank for buying at Rs114.30 and for selling at Rs114.50.

Minister of State for Finance Rana Muhammad Afzal Khan has ruled out further devaluation in Pakistani currency. “It is unlikely that dollar value will reach Rs120 but we cannot intervene in market,” said Afzal Khan. The dollar would remain between Rs112 to Rs115, he added.