In Karachi, there has been a noticeable rise in the value of the US dollar against the Pakistani rupee. In the interbank market, the dollar surged by Rs 2.09, reaching Rs 281.35 on the second day of the business week. Similarly, in the open market, the dollar settled at Rs 286, marking an increase of 2 rupees.
The trend indicates a continued flight of the US dollar’s value, with its value climbing against the rupee. Banks are offering the dollar to importers at the rate of 281 rupees and 50 paise, while in the open market, it is being sold at 287 rupees, signifying an additional 2-rupee increase in comparison to previous rates.
According to reports, there is a surge in demand for US dollars in the interbank market, which is outpacing the available supply.
Yesterday, the closing rate of the US dollar in the interbank market was recorded at 289 rupees and 26 paise, while it was sold to importers at a slightly higher rate of up to 289 rupees and 75 paise.
In the open market, the dollar was being sold at 286 rupees, reflecting an increase of two rupees compared to the previous rate.
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