The Pakistani rupee kept depreciating against the US dollar, dropping by 1.46 in the interbank market. When the market closed, the dollar was worth Rs307.10, up from the previous Rs305.64, according to the State Bank of Pakistan.
However, in the open market, the rupee improved its position. In the afternoon, the dollar was trading at Rs324, down from the previous day’s Rs328.
Experts suggest that the open market’s fluctuation was influenced by recent efforts to combat smuggling, which seemed to have contributed to the lower value of the dollar.
Yesterday, the open market saw changes throughout the day, with the dollar briefly reaching Rs338 before returning to Rs328, its previous closing rate.
Market watchers paid close attention to reports of potential foreign investments worth billions of dollars in Pakistan. Currency dealers believe this news could help maintain market stability in the upcoming days.