Karachi, October 04, 2023: The value of the Pakistani rupee is demonstrating resilience in the interbank market, resulting in a depreciation of the US dollar, which closed at Rs 284.98.
The banks sell the US dollars to the importers at a rate of Rs 285.10, mainly for the purpose of opening the Letters of Credit (LCs).
Interbank closing #ExchangeRate for today https://t.co/7gpAlrU3K4#SBPExchangeRate pic.twitter.com/TgifPc4YOj
— SBP (@StateBank_Pak) October 4, 2023
According to the forex experts, the US dollar depreciated by Rs 1 and was traded at Rs 285.
It is worth mentioning here that from last month September 05, the US dollar has depreciated by Rs 22.42 in the interbank market, while at the same time witnessing a devaluation of Rs 43 in the open market.
Yesterday, the US dollar closed at Rs 285.72 at the concluded session of the business in the interbank, meanwhile, the value of the greenback was reduced by Rs 0.4 in the interbank.
Over the past week, the US dollar has experienced a reduction in its worth by Rs 2.02 within two business days, and within the interbank market, it has descended by Rs 21.38 for its highest level peak in history.
