US dollar drastically depreciates against PKR

Karachi: The value of American currency US dollar has drastically fallen against Pakistani rupee following the deal with International Monetary Fund (IMF).

According to details, the dollar has decreased by Rs11 in interbank to settle at Rs274.99 during the business.

On the other hand, the value of foreign currency has fallen by Rs5 in the open market to settle at Rs280.

State Bank of Pakistan (SBP) stated that dollar closed at Rs285.99 in the business week ended June 27.

Interbank closing #ExchangeRate for today https://t.co/LMMCkpDTXi#SBPExchangeRate pic.twitter.com/QHHi3Tj0nM

— SBP (@StateBank_Pak) June 27, 2023

Earlier on Monday, stock market saw a strong boom and the Hundred Index closed at 43,899 with a record increase of 2246 points. The dollar price also decreased in the open market yesterday by Rs5 to settle at Rs285.