According to foreign exchange brokers, the dollar dropped 13 paise in the interbank market on Wednesday morning, trading at Rs279.30.
According to currency brokers, banks sell US dollars to importers for Rs279.80.
According to forex brokers, the dollar currently trades at 281.50 rupees in the open market.
After a prolonged period of weakness, the Pakistani rupee’s value began to rise in the first week of September as state agencies initiated a crackdown on illegal currency transactions and US dollar smuggling.
The rupee started the week in the negative. According to traders, the currency market struggled to maintain last week’s enthusiasm.
Since September 4, the difference between interbank and open market rates has decreased by Rs. 60. Rates have dropped to as low as Rs277 and have since risen briefly to 281.50 today.
