During early-morning trading in the inter-bank market, the Pakistani rupee Thursday experienced a slight increase in value compared to the US dollar, with an appreciation of nearly 0.4%. The rupee was being traded at 276.35, an increase of Rs1.06. The currency exchange market was abuzz with activity as the dollar depreciated. At close, the currency settled at Rs276.35, a decline of Rs 1.41. Furthermore, the depreciation of the dollar has also impacted the open market rate, pushing it up to 280 rupees. On Wednesday, dollar bounced back at the opening of interbank trade, as it gained 31 paisas. The American currency closed at Rs277.41 after gaining Rs1.97 against the local unit.

 The dollar was exchanged for Rs275.75 at the start of the treading session on Wednesday. However, later the greenback gained even more value with Rs1.31 in interbank trade and was being traded at Rs276.75. In just a short while, the currency gained even more strength with Rs1.56 and was traded at Rs277. Owing to the strengthening of the dollar in the interbank trade, the currency’s value stopped falling in the open market also. Its value remained stable at Rs280 in the open market. On Tuesday, the US dollar had lost a massive Rs10 in the interbank market.

 
Credit : Independent News Pakistan-INP