The current exchange rate stands at 284.75.
ISLAMABAD: During early trading hours on Friday, the United States (US) dollar witnessed a deprecation of Rs0.40 against the Pakistani rupee in the interbank market.
The exchange rate in Pakistan currently stands at 284 rupees and 75 paise per dollar. The Interbank market, which plays a crucial role in the country’s foreign exchange operations, has been experiencing increased activity and volatility over recent trading sessions.
In the interbank exchange market, the dollar has shown a slight edge over the rupee, rising by Rs1.35, and it was being traded for Rs285.15 a little past noon on Thursday. Simultaneously, in the open market, the value of the American currency gained Rs1, reaching Rs290.
The trend of the US dollar gaining value against the Pakistani rupee continued, as it closed at Rs283.80 with an increase of 76 paisas. Previously, at the end of the trade day on Wednesday, the greenback had risen by Rs2 in the open market, reaching Rs290.
In the interbank market, the value of the American currency also saw an upward trend, rising by 36 paisas to reach Rs283.40.
As economic indicators and currency fluctuations remain closely monitored, the situation calls for continued attention from authorities and investors alike.
IMF’s Free Market Policy Derails Rupee, Triggers The Value Of The Dollar
Meanwhile, the IMF handed over $1.2 billion to Pakistan under the Stand-By Arrangement on July 13, the value of the rupee improved. However, it proved a temporary relief and the US dollar has, once again, hit the 290 rupees level in the open market trading on Wednesday morning.
Meanwhile, in inter-bank trading, the dollar-rupee exchange rate has increased to above 287 rupees. It fell to 272 rupees when the IMF board approved the loan, but in the following days, the dollar again resurged with full vigor and hit 290 in open market trading.
