Open market records a slight increase of Rs0.01 against value of the US dollar
KARACHI: (UrduPoint/Pakistan Point News-March 11th, 2025) The value of the US Dollar decline against the rupee in the interbank exchange rate as the open market recorded a slight increase of Rs0.01.
Pakistan rupee strengthened against the US dollar in the interbank market due to an increase in remittances from overseas Pakistanis as a record $24 billion were received in the past eight months.
Besides it, the rising foreign exchange reserves and China's decision to defer $2 billion in loan repayments contributed to the rupee's stability which brought the interbank dollar rate below Rs280.
At one point, the dollar dropped Rs0.26 to Rs 279.80 in the interbank market, driven by improved investment sentiment and foreign interest in Pakistan.
However, by the end of the trading session, the dollar closed at Rs279.95 and reflected an Rs0.11 decrease.
