Dollar value decreased rapidly against Rupee

Karachi: The effects of agreements with the International Monetary Fund (IMF) have started to impact the local currency, leading to a rapid decline in the value of the US dollar against the rupee.

According to the figures released by the State Bank of Pakistan on their official Twitter account, during the third business day of the current week, the interbank market witnessed a drop of 37 paise in the value of the US dollar against the rupee.

As per the latest data, the value of the US dollar against the rupee in the interbank market has dropped to 277 rupees and 04 paise from 277 rupees and 41 paise.

The central bank reported a 0.13% decline in the value of the rupee against the US dollar in the interbank market.

On the other hand, in the open market, the value of the US dollar has reached close to 280 rupees.

Interbank closing #ExchangeRate for today https://t.co/s4Ua3qFDzO#SBPExchangeRate pic.twitter.com/o2noX7ErMp

— SBP (@StateBank_Pak) July 6, 2023