The dollar gained 79 paisa against the rupee in the inter-bank market on Wednesday. The US currency was being traded at Rs220.50 in the early morning trade.

This is the sixth consecutive day when the dollar had marginal gains against the local currency. The greenback was on a freefall since the arrival of PML-N leader Ishaq Dar, who views the real value of a dollar as less than Rs200, in Pakistan.

The dollar closed at Rs219.71 in the inter-bank market on Tuesday, the State Bank of Pakistan reported.

Currency fluctuation

Mohammad Tariq Yousuf, the Karachi Chamber of Commerce and Industry president, advised the importers of motorcycle spare parts on Tuesday to set up their own cottage industries for manufacturing various spare parts.

“These parts are currently being imported. It is no more feasible to import these parts because of uncertain situation due to currency fluctuation,” he said while exchanging views with a delegation of All Pakistan Motorcycle Spare Parts Importers and Dealers Association.

This is a developing story and will be updated accordingly.