According to Pakistan report quoting Forex dealers, “The US dollar (USD) saw an increase of Rs 0.39 against the Pakistani rupee (PKR) in the interbank market on Monday.
Forex dealers noted that the US dollar appreciated by Rs 0.39, taking its current rate to Rs 284.70 in the interbank market. According to forex dealers, banks are offering the dollar to importers at Rs 285.20, while it is being sold at Rs 286 in the open market.
Meanwhile, the Pakistan Stock Exchange had a bullish trend on Monday. This came after an announcement by the Election Commission of Pakistan, in which the election date was fixed on February 8 after a meeting with President Arif Alvi. The benchmark KSE-100 index saw a gain of 221 points, trading at 53,345 points around 10:45 am.
In the last business week ended Friday (November 3), the US dollar appreciated by Rs 3.84 against the Pakistani rupee in interbank trading. The US dollar rose to Rs 284.31 from Rs 280.57 in the interbank market. Additionally, the US currency closed at Rs 285, up by Rs 3.50 from Rs 281.50 in the open market during the same week.
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