Dollar ends at Rs281.71, up by 4 paisas
Karachi: The preparation of the new federal budget based on an exchange rate of Rs290 per US dollar, the rising volume of Pakistan's debt obligations, and the global uptrend in crude oil prices continued to drive the appreciation of the dollar in both foreign exchange markets on Wednesday.
Despite the receipt of a $1.023 billion tranche from the International Monetary Fund (IMF) and the resulting positive sentiment, the increase in the dollar’s value remained limited in both markets.
During the trading session in the interbank market, the dollar at one point fell by 15 paisas, reaching Rs281.52. However, due to a rise in import-related demand in the economy, the dollar began to strengthen again in the afternoon.
By the end of the trading day, the dollar closed at Rs281.71, reflecting a modest increase of 4 paisas.
In the open currency market, the dollar also rose by a limited 3 paisas, closing at Rs283.72.
Sindh fully prepared to deal with floods, says Bilawal
- 4 گھنٹے قبل
Deadly Russian bombing hits Ukrainian village, 23 killed
- 4 گھنٹے قبل
Qatar condemns Israeli airstrike in Doha
- 4 گھنٹے قبل
Multiple explosions reported in Doha amid alleged targeting of Hamas leaders
- 5 گھنٹے قبل
Five-storey building partially sinks in Karachi
- 4 گھنٹے قبل
Govt reduces power tariff for entire country
- 2 گھنٹے قبل
Rana Sanaullah wins Punjab senate seat in by-election amid PTI boycott
- 5 گھنٹے قبل
Stop AI from using my images in obscene videos, Aishwarya Rai petitions court
- 2 گھنٹے قبل
Yamaha shuts down motorcycle production in Pakistan
- 3 گھنٹے قبل
Pakistan, China to jointly train astronauts, establish space center
- 14 منٹ قبل
New cancer vaccine developed in Russia shows high effectiveness in early trials
- 5 گھنٹے قبل
May 9 riots: ATC acquits Qureshi, hands 10-year jail terms to Yasmin, Mehmood
- 3 گھنٹے قبل
