The value of the US dollar continued its downward spiral in the open market, as the greenback extended its depreciation trend on Wednesday (today).
In the open currency market, the US dollar experienced a significant depreciation as its worth went down by Rs10 on Wednesday, leading to its exchange rate reaching Rs312 in the open market.
This rapid decline marked a remarkable Rs18 drop in just two days.
In the interbank market, the American currency saw a minor drop of 12 paisas, and closed the day’s trading session at Rs306.98.
This brings the difference between the greenback rates in the interbank and open currency markets to Rs5, reaching closer to the condition set by the IMF.
It’s important to mention that the dollar didn’t only drop in the open market; it also went down a little by 15 paisas in the interbank market, where it ended up at 307.25 rupees.