The increase in the inter-bank rate of the dollar, depreciated in the open market

Karachi: The value of the dollar increased in the interbank market, while the dollar remained on the back foot in the open currency market.

Due to pressure on foreign debt repayments till June and increased demand for foreign exchange in the economy, dollar continued to rise on a limited scale after fluctuations in the interbank market on Thursday.

At one point during the business session, the dollar was worth 16 paise in the interbank market on positive factors such as the IMF’s new loan program not being subject to devaluation and the possible release of the final $1.1 billion tranche of the program next week. Due to the decrease of Rs.

But as soon as the supply improved, due to the demand of the market forces, at the end of the business, the value of the dollar in the interbank market closed at the level of 278 rupees 48 paise with an increase of 05 paisa, while on the contrary, the value of the dollar in the open currency market decreased by 13 paise. 279 closed at Rs 69 paisa level.