In Karachi, the dollar exhibited a rise of 50 paisa against the Pakistanirupee on Monday in the open market, reaching a trading rate of 281 rupees,as reported by currency dealers. Additionally, the dollar experienced a 15paisa increase in the interbank, where it was trading at 278.95 rupees,according to forex dealers. Banks were observed to be selling the UScurrency to importers at a rate of Rs279.35.
Notably, in the morning session, the dollar had initially seen a decreaseof 30 paisa in the interbank, with a trading rate of Rs278.50.Concurrently, banks were selling the US currency at 279 rupees.
This fluctuation in currency exchange rates comes after the Pakistanirupee’s value began to rise in the first week of September.
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This upturn was attributed to the efforts of state agencies in crackingdown on illegal currency business and the smuggling of US dollars.