The USD exchange rate remained stable at Rs105.06 for two months.
However, the rapid devaluation of USD has panicked the investors who kept their USD in liquid form with optimism to gain heavy premium.
On Friday, USD was traded at Rs102.90-95 in the inter-bank market. Exporters used to keep their proceeds for more than the allowed 130 days in a hope to sell their holdings at a better rate, but during the last five days the dollar lost Rs2.50.
The finance minister has created history by bringing down the dollar to a level which looked impossible to bankers and other market experts.