Dollar hits 10-week low in local interbank market

Karachi: In a significant development at the onset of the new business week, the value of the dollar in the interbank market on Monday reached its lowest point in the past 10 weeks.

The American currency experienced a significant decline, recording a decrease of Rs0.12 on the first day of the week.

In detailed figures, the interbank market witnessed the dollar closing at Rs280.24 after the recorded decrease. Conversely, the open market remained stable, with the dollar being traded at 282 rupees.

Interbank closing #ExchangeRate for today https://t.co/saOzRHbWA0#SBPExchangeRate pic.twitter.com/ITWG8IGd9E

— SBP (@StateBank_Pak) January 15, 2024

The continuous depreciation of the dollar against the rupee in the interbank market indicated a major trend.