Dollar depreciated by 17 paisa against rupee in the interbank market

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Dollar depreciated by 17 paisa against rupee in the interbank market
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Dollar depreciated by 17 paisa against rupee in the interbank market

Dollar strengthens in open market—Photo: File

Karachi: The downward trend in the value of the dollar continues in the interbank market, where it closed down by 17 paise to Rs 278 at the level of 30 paise, while in the open market, an improvement in the value of the dollar was recorded by one paise.

In the interbank market on Thursday, the dollar continued to depreciate throughout the trading period and at one point the value of the dollar in the interbank market fell by 32 paisa to the level of 278 rupees 15 paisa, but at the end of the business, the dollar’s interbank rate decreased by 17 paisa. 278 closed at Rs 30 paise level.

On the other hand, the value of the dollar in the open currency market closed at the level of 279 rupees 55 paise with an increase of only one paise.

It should be noted that the value of the dollar is getting stronger compared to the major currencies at the global level, but due to the limited demand for foreign exchange at the local level and the determination of the value of foreign currencies based on market forces, the dollar is seen to fluctuate periodically.

The representatives of the open currency market said that there is no significant increase in the value of the dollar until June 2024, while the demand for the dollar in the open market is also not equal, which is expected to keep the rupee stable with minor fluctuations. Is.

Dollar depreciated by 17 paisa against rupee in the interbank market