Earlier, SBP said it 'stands ready to intervene in case of any unwarranted volatility in the forex market
The currency appreciated on Friday and will remain stable until the Forex market
reopens, according to the Sultanate's exchange house heads.
The Forex Market
has an average daily trading volume of over 5 trillion dollars which is 50 times larger than the New York Stock Exchange.
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The greenback's was valued at Rs141.5 yesterday, but climbed roughly Rs6.50 to hit a historical peak today, with speculation rife in the forex market
that the rupee may slide further.
Others, on the contrary, prefer to trade in the Forex market
, since it is possible to get a more significant income in a short time.
The rupee opened strong at 70.92 at the interbank forex market
then gained further ground and touched 70.86 amid weakening of the American currency, displaying gains of 26 paise over its last close.
At the interbank forex market
, the rupee commenced with strength at 71.34 and appreciated further to quote 37 paise higher at 71.19 against the US dollar.
He was responding to the criticism of the opposition about current rise in dollar value in forex market
Multiple exchange offices of Bishkek commented to Tazabek on the situation around the forex market
of Kyrgyzstan, namely, lack of USD.