KARACHI: The US dollar rate in Pakistan further declined by Re0.50 to Rs286 in the open market on Thursday (Nov 30).

During the day, currency dealers said the rupee was traded at 286.50 for selling and 283.50 for buying purposes for customers, unchanged from the previous day close.

However, at the end of trading, the currency closed at 283 for buying and 286 for selling purposes, according to data provided by the Exchange Companies Association of Pakistan (ECAP).

Meanwhile, in the inter-bank market, the rupee ended its five session appreciation run against the US dollar as it lost 0.05% in the inter-bank market on Thursday. As per the State Bank of Pakistan (SBP), the currency settled at 285.27, a decrease of Re0.66.

The gap between rates in the inter-bank and open markets is required to be less than 1.25% under one of the structural benchmarks set by the International Monetary Fund (IMF).