The rupee devaluation helped the Pakistan Stock Exchange (PSX) rise by 1,200 points during the day. The global lender had asked the government to let the market forces -- mostly commercial banks -- determine the exchange rate. The rupee had remained under government control since Ishaq Dar took charge as the finance minister in late September 2022. At that time, Dar had said that the fair value of the rupee stood in the range of Rs180-200 per US dollar. Now, the black market rate will come closer to the bank rate,” he added.
