Against the US dollar, the Pakistani rupee increased by 5.58 on Monday in the interbank market, according to reports citing currency dealers.
Since the Exchange Companies Association of Pakistan (Ecap) lifted an unofficial exchange rate cap, the value of the dollar has increased by more than Rs30 in the interbank market.
The dollar dropped Rs. 5.58 versus the local currency on Monday and ended the week’s last business day at Rs. 276.58 in the interbank market.
According to the foreign exchange brokers, the dollar is now worth Rs271 following a depreciation of Rs5.58 in the interbank market. According to the currency brokers, the banks are selling dollars to importers for Rs274.
