KARACHI – Pakistani rupee continued its upward momentum on Wednesday against the US dollar in the interbank market.
Due to the decline in the value of the dollar in the Interbank, the price of the greenback plunged in the open market. The dollar depreciated by another Rs6 and thus the price of the US Dollar touched Rs294 in the open market.
USD to PKR
After the decrease in the price, USD hovers at around 287 rupees 18 paisa in the interbank market; on Tuesday, the rupee closed at 287 rupees and 97 paisa in the interbank market.
According to the dealers, the price of the US dollar continues to fall in the open currency market, while the value of the Pakistani rupee has further improved. According to the report, two days back the selling price of the US dollar decreased by another 5 rupees to 295 rupees while the buying price is 292 rupees. It should be noted that the value of the dollar has decreased by 10 rupees during two days in the open currency market.
It should be remembered that Federal Finance Minister Senator Ishaq Dar had said a few days ago that the actual value of the US dollar is between 260 and 280 rupees.
