The value of the US dollar against the Pakistani rupee registered a decrease of Rs3.11 in the interbank market on Tuesday, a day after the greenback dropped by Rs3.65.

In two days, the US dollar has lost its value by Rs6.76. It closed at 233.91 on Tuesday after a 1.33% depreciation, according to the State Bank of Pakistan.

The falling dollar price coincides with the return of former finance minister Ishaq Dar, who is likely to take oath as a Senator and finance minister today.

The value of the US dollar had topped Rs240 last week, but with the government’s decision to replace Finance Minister Miftah Ismail with Dar, it slumped on Monday to Rs237.02 in the interbank market. In the open market the greenback depreciated by Rs6, reducing the gap between interbank and open market rates.

On Tuesday, soon after the market opened, the US dollar slumped further to Rs236. The rupee appreciated further during the intraday trading.

In the past few weeks, the gap between open market and interbank market rates had widened to over Rs11.

There were claims about the heading of dollars as people planned to profit from the rising prices.