Dollar holds firm against rupee, rises to Rs287 in open market


(Web Desk): The US dollar remained strong against the Pakistani rupee in both foreign exchange markets, pushing its value up to Rs287 in the open market.
The strengthening of the dollar globally against major currencies, upcoming external debt payments in the new fiscal year, and increasing future import requirements — along with reported regulatory interventions — all contributed to the dollar’s continued rise against the rupee on Wednesday.
Despite positive developments such as a 7.9% increase in remittances in June to $3.4 billion, the government’s $1 billion syndicated loan agreement with Dubai Islamic Bank, and efforts to introduce Panda Bonds, the market largely ignored these factors.
In the interbank market, the dollar at one point dropped by 16 paisas to Rs284.20 during trading. However, due to rising import-related demand, it later closed at Rs284.46, up by 10 paisas. Similarly, in the open market, the dollar rose by 16 paisas to close at Rs287.
South African police arrest 1,000 illegal miners near Barberton
- 14 hours ago

Intermittent rain cools Lahore
- 16 hours ago

With new look and deal, Luka ready 'to go for it'
- 3 hours ago
Acid attack on first-year student in Jhang leaves her with severe burns
- 15 hours ago
Ukraine drone strike sparks fire at Russian oil depot near Sochi
- 16 hours ago

Pro Football HOF welcomes Sharpe, three others
- 3 hours ago
Former AJK PM Sardar Abdul Qayyum Niazi arrested in connection with May 9 riots
- 15 hours ago
11-year-old Fatima Naseem sets sixth Guinness World Record for Pakistan
- 17 hours ago

Filipino-origin woman shot in Karachi over property dispute
- 17 hours ago
Instagram now requires 1,000 followers to go live
- 17 hours ago
Gaza crisis deepens: 57 Palestinians martyred, aid centers targeted
- 14 hours ago
Pakistan, Iran sign multiple MoUs to boost bilateral cooperation
- 16 hours ago