A day after the Exchange Companies Association of Pakistan (ECAP) removed the fixed rate (cap) of the dollar in the open market, the value of the rupee has fallen sharply in the interbank and open market.
In the interbank market, after the dollar closed at 230 rupees 89 paisa yesterday, the value of the rupee decreased by 24 rupees 11 paisa, after which the dollar reached 255 rupees.
The condition of IMF was that the exchange should be left to market forces.
