Despite the fact that Pakistan has received $1.5 billion from the Asian Development Bank to boost its social security edifice and for the rehabilitation efforts after the calamitous floods, the local unit fails to show robustness.
The currency dealers are of the view that the market is showing negative vibes due to political uncertainty engulfing the country after the long march call given by the PTI. After the short-lived gaining spree of Pakistani rupee, the demand for dollars has increased once again in the interbank market.
Besides this, the dearth of dollar in the open market is also raising the value of American currency thanks to the emergence of grey market. The unauthorized dealers are taking dollars at comparatively better rates, thus adding to its value.