KARACHI: The dollar has become cheaper in the interbank market, while the dollar remained stable in the open currency market without any change.
The rupee strengthened against the dollar in the interbank market on Monday on expectations that the next tranche of the loan program, including climate financing, will be approved if the IMF’s required conditions are met.
The US Critical Minerals Forum’s agreement to cooperate in Pakistan’s mineral and mining sectors, strengthen the supply chain, and encourage investment, and reports that Kuwait will provide $25 million for the Mohmand Dam project.
The dollar continued to depreciate throughout the trading session on the back of Saudi Arabia’s delayed payment of a $6 billion deposit to Pakistan, the hope of increased remittances, and the prospect of a decline in the value of the dollar, which at one point even fell by 21 paise to Rs 280.70.
However, due to increased import demand, the dollar closed at Rs 280.90 by the end of trading, down by one paise.
On the other hand, the dollar remained unchanged in the open currency market at Rs 282.
