Dollar Makes Gain Against Rupee,

 

KARACHI: The US dollar appreciated by Rs2.44 to Rs287.09 against the rupee in the interbank market on Monday. The State Bank of Pakistan (SBP) reported the dollar settled at Rs287.07 while the exchange companies quoted the closing price at Rs289.10 for the interbank market. From a Source (https://www.dawn.com/)

 

The market remained normal with continued stress for importers to open letters of credit. However, the fluctuations in the exchange rate were due to news about the IMF -- sometimes positive and sometimes negative. Currency dealers in interbank and open markets hardly trust the government statements that the IMF is about to release the $1.1 billion tranche.