KARACHI: Due to the uncertain political situation and difficulties in the expected agreement with the IMF among other factors, the dollar remained strong in the interbank market while the rupee weakened in the open market.
According to the details, despite the positive report of the Bank of America regarding the increase in the value of Pakistani bonds in the future due to the expected agreement with the IMF and the reduction of political uncertainty, the rupee remained weak against the dollar in the interbank market on Tuesday. On the contrary, the rupee remained weak against the dollar.
Since the start of business in the interbank market, the value of the dollar has decreased, due to which the interbank rate of the dollar decreased by 25 paisa to the level of 278 rupees 95 paisa. At the close of trading from 07 paise to 279 rupees, the dollar closed at the level of 27 paise.
On the contrary, the open rate of the dollar closed at the level of 282.04 paisa with a decrease of 24 paise due to the decline in demand compared to the supply in the open currency market.
Experts say that the value of the rupee has been continuously depreciating against the dollar since September 5, 2023, and a total increase of 9.94% has been recorded in the value of the dollar against the rupee during this period.
