KARACHI: June14,2023: The rupee gets more strength vis-a-vis US currency on Wednesday. US dollar was continuously appreciating against the rupee in in open market for the last a few weeks. However, after commitment of top government authorities of meeting Pakistan’s payments obligations with or without the International Monetary Fund (IMF) bailout package, the local currency rebounded to stop dominance of US currency.
In the open market, the rupee-USD parity remained at Rs 291.00 (buying) and Rs 293.00 (selling) today. On Tuesday, US dollar had closed at Rs 295.00 (buying) and Rs 298.00 (selling) respectively.
In interbank, US dollar rate in interbank today stands at Rs 287.50 (buying) and Rs 288.00 (selling). Banking mafia is resisting appreciation of the local currency as higher USD rates give them more opportunities to fleece the buyers.
Other major currencies rates in Pakistan as follows. Saudi Riyal is trading at Rs 78.40 (buying) and Rs 79..00 (selling). UAE is trading at Rs 80.20 and Rs 81.00. Euro rate is trading at Rs 316.80 (buying) and Rs 320.00 (selling). Pound Sterling is trading at Rs 366.00 (buying) and 370.00 (selling).
AUD rate in local currency market is Rs 196.00 (buying) and Rs 200.00 (selling) respectively. CAD rate today in local market is R 218.00 (buying) and Rs 222.00 (selling). Chinese Yen rate is Rs 46.00 (buying) and Rs 47.00 (selling) respectively.
Afghan currency is performing even better than the rupee. Afghan rupee is trading at Rs 3.30 (buying) and Rs 3.70 (selling) respectively.
