KARACHI: The Pakistani rupee appreciated by Rs 5.58 against the US dollar in the interbank market on Monday
(today).
The forex dealers said the dollar is being traded at Rs271 after a deprecation of Rs5.58 in the interbank market. On the other hand the banks are selling the dollars to importers at Rs274, the forex dealers said.
The greenback is trading at Rs277 in the open market.
It is pertinent to mention here that the Exchange Companies Association of Pakistan (ECAP) removed the cap on the US dollar in a bid to end ‘artificial’ demand in the market
The greenback has gained over Rs 30 in the interbank market since the Exchange Companies Association of Pakistan (Ecap) removed an unofficial cap on the exchange rate.
The dollar closed at Rs276.58 in the interbank market on Friday, the last business day of the week, lost Rs.5.58 on Monday against the local currency.
