The price gap of the dollar between the interbank and the open market is reduced.
Karachi: The value of the dollar has returned to normal, eliminating the gap between interbank and open market rates, according to the State Bank.
Malik Bostan CEO of Pakistan Currency Exchange has announced that the black market for the dollar has been dismantled, and the value of the US currency is now 286.50 rupees in the interbank market and 289 rupees in the open market.
He stated that the unusual gap in the value of the dollar has been eliminated in the official and open markets.
They further revealed that the "black market" for the dollar is collapsing, resulting in a significant reduction in the price difference.
This development has also affected remittances, with the exchange rate for hawala transactions being impacted.
In Peshawar, the dollar is being traded at 291 rupees in the grey market, while in Dubai, it has reached 294 rupees.
Malik Bostan stated that in the event of a deal with the IMF, the dollar could gradually decline to 270 rupees.
The Art of the Steal
- 18 hours ago
SMEDA mulls on-ground support for flagship cluster showcase participants
- 4 hours ago
Aitchison College, Pakistan Army share strong and enduring relationship: ISPR DG
- 10 hours ago
Pats' Maye rules out surgery, 'just need time off'
- 19 hours ago
Pakistan to become 90pc clean energy country in terms of power generation by 2034, NA told
- 9 hours ago
Movies can change the world, but not politically, says Berlin Film Festival juror Wim Wenders
- 5 hours ago
The Epstein files might bring down a government. Just not the US government.
- 18 hours ago
Why American “quad god” Ilia Malinin skates like no one else
- 18 hours ago
IOC to allow Ukrainian athlete to wear armband
- 19 hours ago
Former army chief Qamar Bajwa hospitalised following fall at home: ISPR
- 10 hours ago
Two US Navy ships collide, no major injuries, US Southern Command says
- 5 hours ago
Shanaka fireworks as Sri Lanka thrash Oman at T20 World Cup
- 8 hours ago
