A big fall in the value of the dollar in the interbank market

KARACHI: After the agreement between the IMF and Pakistan, the dollar continues to fall in the interbank and open market.

The agreement with the International Monetary Fund has started to have a positive impact on the Pakistani rupee, after which the dollar fell by Rs 13 to Rs 273 in the interbank market.

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Apart from the interbank market, the dollar continued to depreciate in the open market, where the dollar fell by Rs 5 to Rs 280. In the open market, the buying price of the dollar was 277.50 while the selling price was 280 rupees. Apart from dollar, the value of euro, pound, dirham and riyal has also been recorded in the open market, according to which the price of riyal decreased by 3.70 rupees and riyal became 71.70 rupees.

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The dirham fell by Rs 6.30, after which the dirham was trading at Rs 72.70. Similarly, the price of the pound has decreased by 13 rupees and is trading at 355 rupees. The Euro fell by Rs 8, and is trading at Rs 305.

Read more: Big drop in dollar value by five rupees

According to Chairman Exchange Association of Pakistan Malik Bustan, the tendency to sell dollars is increasing due to the stabilization of the value of the rupee after the IMF agreement.