Karachi: The US dollar depreciated further against the rupee, with the interbank rate falling below Rs 262 and the open rate below Rs 268.
Due to the suspension of import activities, the supply of the dollar has increased against the demand in the market due to the reduced volume of imports, with the dollar in reverse gear for the third week in a row.
Experts say that as a result of meeting all the required conditions, the International Monetary Fund is expected to reach a staff-level agreement soon, after which the issuance of new loans by friendly countries and other international financial institutions will also begin. And the recovery of rupee value will accelerate.
In the interbank market on Monday due to intermittent demand in the business period, the value of the dollar fluctuated and at one point the value of the dollar decreased by 1.62 rupees to 261 rupees 19 paise. At the end of the year, the interbank rate of the dollar closed at the level of 261.88 rupees, down by 93 paise.
In the open currency market, the price of the dollar fell by one rupee to Rs 267 during the trading period, but at the end of the session, the open rate of the dollar closed at the level of Rs 267.75 with a decrease of 25 paise.
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