The dollar hit a seven-month low in the interbank market
Karachi … News Time
Last week, the US dollar depreciated further against the rupee due to rising remittance income from legal channels in the country. The rupee continued to strengthen against the dollar in both the foreign exchange markets last week and the dollar hit a seven-month low in the interbank market. During the week, the dollar fell by Rs 159 in the interbank and open market. The dollar continued to depreciate despite the opening of import LCs. The dollar, euro pound and riyal depreciated last week. During the week, the dollar lost 93 paise to close at Rs 158.16 on the interbank market, while in the open currency market; the dollar fell by Rs 1.20 to close at Rs 158.10. Similarly, the overall value of Euro currency in the interbank market fell by Rs 1.58 to Rs 186.86 while the value of Euro currency in the open market fell by Rs 3.50 to Rs 185. The British pound lost 90 paise to Rs 208.10 on the interbank market, while the British pound lost Rs 1.50 to Rs 207 in the open market. Similarly, in the interbank market, the Saudi riyal fell by 25 paise to Rs 42.16, while in the open market; the Saudi riyal fell by 5 paise to Rs 41.50.
