KARACHI: June 7, 2023: In a positive move, US dollar shed Rs 3 against the rupee in open market today. This brought US dollar value down to Rs 295 (selling) and Rs 298 (buying) from Rs last day’s value of Rs 298 (selling) and Rs 301 (buying) respectively.
US dollar value is ranging between Rs 295 to Rs 300 following a government step to allow the commercial banks to make payments of credit cards at the interbank rates.
In interbank, US dollar is resisting downward trend in its value and staying at Rs 285 plus for the last many days. By resisting downward trend in the value, the banking mafia is proving its unmanageable and powerful than the state departments regulations .
The banking mafia is fast turning into a new East Company for Pakistan . Its grabbing windfall profit amidst growing financial crisis of Pakistan.
Living up to its powers, the banking mafia in Pakistan is resisting any downward move in US dollar value. In interbank, US dollar remained pegged to Rs 286.40 (buying) and Rs 286.80 (selling) today.
Other major currencies rates in Pakistan as follows . Saudi Riyal is trading at Rs 77.20 (buying) and Rs 78.00 (selling). UAE is trading at Rs 81.00 and Rs 81.80. Euro rate is trading at Rs 309.00 (buying) and Rs 312 (selling). Pound Sterling is trading at Rs 360.00 (buying) and 363.60 (selling) .
AUD rate in local currency market is Rs 193.00 (buying) and Rs 196.00 (selling) respectively. CAD rate today in local market is R 215.00 (buying) and Rs 218.00 (selling). Chinese Yen rate is Rs 44.00 (buying) and Rs 46.00 (selling) respectively.
Afghan currency is performing even better than the rupee. Afghan rupee is trading at Rs 3.50 (buying) and Rs 3.80 (selling) respectively.