Today, forex trade was steady on Pakistan’s open market. The US Dollar was bought at PKR 278.95 and sold at PKR 280.45. Analysts of the market pointed out that the rates show a time of relative steadiness as the government’s spending policies continue to make changes to the economy. The Euro could be bought for PKR 285.75 and sold for PKR 288.50. The British Pound, on the other hand, stayed strong at PKR 341.50 and PKR 345.00. More people were buying Saudi Riyals and UAE Dirhams, which traders think was because of money sent back from abroad.
Some experts believe that focusing on improving the balance of trade could help to calm the forex market even more in the coming weeks.
