KARACHI: Despite the standby agreement with the International Monetary Fund (IMF), the Pakistani rupee still witnessed a downward trend against US Dollar, ARY News reported on Friday.
According to the State Bank of Pakistan (SBP), the US dollar became more expensive by Rs 0.86, closing at Rs 295.78 in the interbank market.
Interbank closing #ExchangeRate for today https://t.co/EQAQL5zTC2#SBPExchangeRate pic.twitter.com/tJozChlO2l
— SBP (@StateBank_Pak) August 18, 2023
As per Forex dealers, the dollar is being sold at Rs 302 after becoming Rs 1 costlier in the open market, meanwhile, banks are selling dollar at Rs 296.38 to importers.
Yesterday, the dollar had increased by an additional Rs 3 in the interbank and open markets.
In merely two days since the caretaker government took charge, the dollar has collectively become Rs 7.5 more expensive in the open market and interbank market.
