Karachi: The rupee has been steadily improving against the dollar, with the rupee increasing in the interbank and open markets on Friday as well.
According to Express News, the rupee remained better against the dollar in both foreign exchange markets on Friday due to positive factors such as a 7.4 percent increase in remittances from overseas Pakistanis in July, cheap crude oil import agreements and expected sectoral investments in Pakistan by various countries, which brought the dollar’s open rate below Rs 285.
The dollar continued to depreciate throughout the trading period in the interbank market due to increased trade relations with the United States due to tariff concessions and continuous actions against elements involved in dollar smuggling.
At one point, the value of the dollar had fallen by 34 paise to Rs 282.21, but as supply improved, import demand increased, and the dollar closed at Rs 282.46 by the end of the day.
In the open currency market, the dollar also fell by another 10 paise to Rs 284.90 by the end of the day due to the improvement in the supply of the dollar.
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