KARACHI – US dollar, after plunging massively last week, regained momentumon first working day of the week.
During the intra-day trading, the local currency dropped nearly 0.08percent in the interbank market and the dollar was being traded at 285.90.
In the open market, Pakistani rupee hovered between 302-305 against thedollar.
Last week, Pakistan’s central bank permitted approved dealers to buydollars on the interbank market in order to settle card-based cross-bordertransactions using International Payment Schemes (IPS).
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The central bank announced in a notification on Wednesday, saying, “It isdecided to allow authorised dealers to purchase USD from interbank forsettlement of card-based cross-border transactions with IPS [such as Visa,Mastercard, etc.] in view of representations received from stakeholders.”
