The US dollar touched eight-month high against rupee and rose by Rs3 to Rs162 in the opening hours of the interbank market on Wednesday. According to market sources, the increase in dollar’s value can be attributed to the central bank’s Tuesday night decision to cut the monetary policy rate, bringing it down to 11%.
As the Pakistani currency continues to dwindle down against the US Dollar, Civil Aviation Authority (CAA) has decided to rationalise airport charges, which now have to be paid in Pakistani rupees only. Passengers were earlier required to pay $20 and the rate has now been rationalised to Rs2,800 per passenger, with immediate effect, on international departures.