KARACHI: July 5, 2023: Within 24 hours, US dollar has regained its lost value partially in the currency market. US dollar had crashed in the local currency market a day ago and there was a strong perception that it will lose more value in coming days as a result of positive impact of the International Monetary Fund (IMF) deal for $ 3 billion bailout. However, this perception proved otherwise in just 24 hours when USD jumped up by Rs 5 in both interbank and open market on Wednesday.
On Tuesday USD had dropped by Rs 15 plus in interbank. According to All Pakistan Currency Dealers Association (APCDA), with appreciation of Rs 5, US dollar is trading today at Rs 275.00 (buying) in interbank . Similarly, USD selling rate today is recorded at Rs 277.00 in interbank. In open market, USD is also trading at the same rates of interbank.
Other major currencies are showing mixed trend in the local currency market today. Saudi Riyal is trading today at Rs 73.00 (buying) showing an increase of Rs 1.50. Its selling rate is recorded at Rs 74.00 again showing an increase of Rs 1.50 . UAE dirham rate is Rs 75.00 against its last day rate of Rs 73.50 (buying) and Rs 76.00 (selling) respectively. Euro is trading at Rs 295.00 (buying) and Rs 301.00 (selling) respectively. UK pound is trading at Rs 345.00 (buying) and Rs 350.00 (selling) respectively. AUD is trading at Rs 183.00 (buying) and Rs 186.00 (selling) respectively. CAD is trading at Rs 208.00 (buying) and Rs 212.00 (selling) Chinese yen is trading at Rs 40.00 (buying) and Rs 44 (selling) respectively.