On Wednesday, the current rate for US Dollar stands at Rs282.50, as the interbank exchange rate saw a notable Rs1.03 rise today.
In a report from currency dealers, it was revealed that on the third day of the business week, the interbank rate for the US dollar saw an increase of Rs1.03, bringing the exchange rate to Rs 282.50.
At the closing of the trading session, the American currency gained Rs1.17 and ended the day by trading at Rs282.64.
In the open market, the dollar gained Re1 and settled at Rs284.
Interbank closing #ExchangeRate for todayhttps://t.co/hjomOjLAL6#SBPExchangeRate pic.twitter.com/8nMHm9S96m
— SBP (@StateBank_Pak) November 1, 2023
Over the past week, the interbank rate for the US Dollar saw an overall increase of Rs1.19, as the currency has been constantly witnessing a rising trend for the past 10 days.
In the last 10 days, the dollar saw a Rs5.81 rise in the interbank market and Rs7 in the open market.
Currency dealers say that the dollar is witnessing another wave of hike in its price due to a rise in demand and an ease in restrictions over it.
As per State Bank's data, the previous day witnessed an increase of 52 Paisas in the value of the Dollar in the interbank market.
While, according to the Exchange Companies Association of Pakistan (ECAP), there was a 50 Paisas increase in the Dollar's price in the open market.
