KARACHI: On Wednesday, the value of the rupee increased against the dollar in the interbank and open currency markets.
Also on Wednesday, Pakistan’s dollar bonds rose to a two-year high after the agreement with the IMF on possible issuance of $1.1 billion by the end of April and the real effective exchange rate index rose to 102.2 points. In both the foreign exchange markets, the rupee continued to depreciate against the dollar.
In February 2024, due to factors like current account surplus of 128 million dollars and foreign direct investment of 14 crore dollars, the value of the dollar in the interbank market at one point fell by 45 paisa to the level of 278 18 paisa during the business period.
Meanwhile, due to intermittent demand from market forces, at the end of the business, the interbank rate of the dollar closed at the level of 278 rupees 41 paisa after a decrease of 22 paisa, while the value of the dollar closed at the level of 281 rupees 12 paisa after a decrease of 03 paisa in the open currency market.
In the wake of positive indicators such as expectations of loan deferment facility before the end of June 2024, a 2% increase in Roshan digital account inflows, the rupee is predicted to strengthen further against the dollar in the coming days. Will be.
