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Dollar fluctuates at Rs219 in open market, drops to Rs217 in inter-bank

Dollar Background

ISLAMABAD: The dollar-rupee exchange rate demonstrated a mixed trend in the inter-bank and open market on Thursday morning.

The value of dollar in the inter-bank declined to Rs217 this morning as against Rs 218 on Wednesday.

In the open market, the value of dollar was fluctuating around 219 rupees, from a day earlier rate of 224 rupees.

With the disbursement of IMF loan, everyone was expecting a blow to the value of US dollar in the inter-bank and open market, but till the filing of this news at 10:40 am, the inter-bank demonstrated further improvement in rupee value, but open market ignored IMF breakthrough.

Importantly, from the day the executive board of the IMF has approved the resumption of loan for Pakistan (On Aug 29), the value of dollar has dropped by 13 rupees, from 232 to 219 during till Aug 31.

Meanwhile, the KSE-100 benchmark index of Pakistan Stock Exchange further edged up by 281 points on Thursday morning, hitting 42,632 points as the market became bullish after Pakistan received $1.16 billion on Wednesday night.

Javed Mahmood
Written By

I am an experienced writer, analyst, and author. My exposure in English journalism spans more than 28 years. In the past, I have been working with daily The Muslim (Lahore Bureau), daily Business Recorder (Lahore/Islamabad Bureaus), Daily Times, Islamabad, daily The Nation (Lahore and Karachi). With daily The Nation, I have served as Resident Editor, Karachi. Since 2009, I have been working as a Freelance Writer/Editor for American organizations.

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