By close of trading, dollar rises by Rs0.2 and settles at Rs279.97 in interbank market
KARACHI: (UrduPoint/Pakistan Point News-March 12nd, 2025) The US Dollar remained strong against the rupee in the foreign exchange markets on Wednesday due to rising demand in the economy, and continued pressure from imports and external payments.
Ahead of Eid-ul-Fitr, an increase in remittances from overseas Pakistanis and Moody’s acknowledgment of improvements in Pakistan’s macroeconomic situation initially led to a Rs0.26 decline in the interbank market, bringing the dollar down to Rs279.80 at one point.
However, as supply improved, market forces drove up demand, causing the dollar to regain strength. By the close of trading, the dollar had risen by Rs0.2 and settled at Rs279.97 in the interbank market.
Similarly, in the open Currency market, the dollar appreciated by Rs0.9 and closed at Rs281.59.
