Business
US dollar gets expensive against the rupee
PSX witnesses a negative trend during the last day of business, the 100 index drops 95 points.
Karachi: The US dollar has surged by Rs0.30 in the interbank market, while simultaneously decreasing by Rs0.50 in the open market.
According to currency dealers, the Pakistani rupee experienced a decline in value in the interbank market, resulting in the US dollar reaching Rs287.50 after the Rs0.30 increase.
On the other hand, currency dealers report a different scenario in the open market, where the US dollar has become cheaper, and the Pakistani rupee gained Rs0.50, pushing the dollar's rate down to Rs292.
It is worth noting that in the previous session, the interbank rate witnessed a significant decrease of Rs2.18 in the value of the US dollar.
After the increase of Rs0.5 in the opening of business in the domestic exchange markets, buying and selling of dollars continues at Rs287.25.
It should be noted that the dollar closed at Rs287.20 last day in the inter-bank exchange.
On the other hand, Pakistan Stock Exchange (PSX) saw volatility during trading, with the 100 index down 95 points to 48,515.