Dollar more expensive by 10 paise in interbank market

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Dollar more expensive by 10 paise in interbank market
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Dollar more expensive by 10 paise in interbank market

Karachi: In the interbank market, the dollar became more expensive by 10 paise, while the value of the dollar decreased by 11 paise in the open market.

Due to factors such as strengthening of the dollar against all major currencies globally, increasing import activities ahead of the new federal budget, the dollar continued to rise in value in the interbank market on Tuesday, on the contrary, in the open currency market. The rupee remained weak against the dollar.

The dollar also depreciated by 3 paise to Rs 278 26 paisa at one point during the trading session as a result of improvement in foreign exchange reserves due to increased inflows from the Roshan Digital Account.

But demand for imports from other sectors, including mobile phones and telecom products, and market forces at higher prices led to a gradual increase in the dollar’s interbank rate.

As a result, the value of the dollar in the interbank market increased by 10 paise to close at the level of 278 39 paise while in the open currency market the value of the dollar closed at the level of 279 43 paise with a decrease of 11 paise. .

Experts say that the devaluation condition for the new loan program by the IMF is seeing a gradual increase in the value of the dollar at the interbank level.

Dollar more expensive by 10 paise in interbank market