The latest exchange rate of the US dollar in Pakistan has been released, according to which the dollar is trading with a slight difference in the interbank and open markets. There has been no sign of any interruption in business activity in the currency market, and the exchange rates have been gradually becoming stable.
The latest market data shows that the dollar is being sold in the interbank market at Rs 277.60 and bought at Rs 278.10. Likewise, open market trading of the US dollar is going on at Rs 278.50 for buying and Rs 278.75 for selling.
The slight gap between the interbank and open market rates suggests in general that the foreign exchange market is reasonably balanced domestically, according to experts. Other elements like payments from abroad, remittances, export earnings and trends in the global financial markets may influence the exchange rate in the future, they say.
According to economic analysts, the small movements are seen from day-to-day in the foreign exchange market and traders, exporters, importers, investors and common people should know the current and authentic exchange rate before transacting in the foreign exchange market.
