KARACHI: The increase in the value of the dollar stopped in the open market, while a slight increase in the value of the American currency was recorded in the interbank market.
Both foreign exchange markets continued to move in opposite directions on Friday due to the government’s crackdown legislation against foreign currency holders and reports of increased tax on overseas debit and credit card payments.
The dollar closed with limited gains following volatility in the interbank market, while the dollar also held steady as there were no buyers or sellers in the open market.
Despite pressure on payments in the interbank market due to the government’s claims of an early agreement with the IMF, the dollar saw limited volatility, with the dollar’s interbank rate exceeding 287 rupees at one point during the business period.
286 by an increase of 13 paisa in the interbank market due to the decrease in demand. 93 closed at the level of Rs.
On the contrary, the open currency market saw no change in the value of the dollar throughout the day, as a result of which the open rate of the dollar remained unchanged at the level of Rs 305 at the close of business.
The two foreign exchange markets have been moving in opposite directions for the past few days due to the unclear situation of resuming the IMF program, no new inflows in the country and uncertain economic conditions.
In the context of the ongoing difficult situation in the commercial and industrial circles, the new federal budget was presented and the fears of possible tough measures in the budget also limited dollar transactions on Friday.
Due to non-arrival and uncertain economic conditions, both the foreign exchange markets have been moving in opposite directions for the past few days.
In the context of the ongoing difficult situation in the commercial and industrial circles, the new federal budget was presented and the fears of possible tough measures in the budget also limited dollar transactions on Friday.
Due to non-arrival and uncertain economic conditions, both the foreign exchange markets have been moving in opposite directions for the past few days.
In the context of the ongoing difficult situation in the commercial and industrial circles, the new federal budget was presented and the fears of possible tough measures in the budget also limited dollar transactions on Friday.