KARACHI: June 21, 2023: The currency market is responding positively as the local currency made considerable gain against USD on Wednesday.
With gain of the local currency, US dollar is trading at Rs 286.90 (buying) and Rs 287.15 (selling) in interbank.
In open market, US dollar is also showing downward trend and its trading at Rs 288.00 (buying) and Rs 291.00 (selling) against its last day’s rates of Rs 289.00 (buying) and Rs 292.00 (selling) respectively.
Open market is responding to the government’s efforts to stablise the local currency and as a result there was considerable reduction in USD value, but the commercial banks were resisting these efforts as its club was trying to maintain pressure on the rupee. The banks are really working as an East India company and working for protecting its own interests.
According to All Pakistan Currency Dealers Association (APCDA), US dollar and all other major currencies are also showing downward trend today. Saudi Riyal is trading today at Rs 76.40 (buying) and Rs 77.20 (selling) . UAE dirham rates are Rs 79.20 (buying) and Rs 80.00 (selling). Euro is trading at Rs 313.00 (buying) and Rs 316.10 (selling) respectively. UK pound is trading at Rs 365.30 (buying) and Rs 369.00 (selling) respectively. AUD is trading at Rs 193.00 (buying) and Rs 196.00 (selling) respectively. CAD is trading at Rs 216.00 (buying) and Rs 219.00 (selling) Chinese yen is trading at Rs 45.00 (buying) and Rs 48 (selling) respectively.
