KARACHI: The exchange rate of the US dollar in Pakistan remained steady in the open market on Wednesday, November 1.
According to currency dealers, the rupee was traded at 283 for selling and 280 for buying purposes for customers throughout the day. Conversely, the US dollar saw an increase in value in the inter-bank market, with an initial surge of Rs1.18 at the beginning of trading.
By the day’s end, the dollar closed at Rs282.65 in the interbank. Over the last ten sessions, the dollar has climbed by Rs5.81 paise.
This disparity in rates between the inter-bank and open markets is required to be within 1.25%, a benchmark set by the International Monetary Fund (IMF). The goal is to maintain a narrower gap between these rates for economic stability and financial consistency.
