Pakistani rupee staged a notable recovery against the US dollar in the Open Market, trading at 325/US$, marking reduction in gaps of Open-Market and inter-bank rate.
Dollar was being quoted at 325 for selling and 322 for buying in the open-market, marking a decrease of Rs5 from the previous day’s rates of 330 for selling and 327 for buying.
The Exchange Companies Association of Pakistan (ECAP) also provided rates of Rs325 for selling and Rs322 for buying during the trading session.
Meanwhile, in the inter-bank market, the rupee remained under pressure and was traded in the range of 306 -307 level against the US dollar.
Currency dealers attributed the stabilization of the currency’s value to a recent meeting between Chief of Army Staff (COAS) Asim Munir and members of the business community that took place on Sunday.
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