US Dollar Declined By Rs 12 In Open Market Against PKR

 In Open Market Against PKR US Dollar Declined By Rs 12 

According to Pakistan Interbank, the USD/PKR selling currency rate for 1 USD is PKRs.285.65, and the USD/PKR purchasing exchange rate is PKRs.285.65. current as of June 2, 2023.

USD to PKR Interchange rates constantly change based on global supply and order. Understanding the exchange rate for your currency on this page may help you convert money at the most advantageous rate.

Karachi: The value of Pakistan Rs. has been stable in the open market as the United state $ has become cheaper by rupees twelve to adjust at Rs299 in the open market. 

A dollar closed at Rs 285.38 at Interbank. Earlier, the dollar closed at Rs 311 in the open market while the dollar closed at Rs 285. 47 in the interbank market.

Chairman Exchange Companies Association of Pakistan Malik Bostan said that banks were buying dollars at 315 and selling at 325. According to the bank, the dollar has become cheaper by Rs 27.

Malik Bostan said that today for the first time in the history of Pakistan, the price of the dollar has decreased by Rs 27. He congratulated Finance Minister Ishaq Dar and Governor State Bank for their timely decisions.

Malik Bostan said that commercial banks were buying dollars for credit cards from the open market at a high rate for a long time. When the dollar was 315 in the open market, Ishaq Dar contacted him. Ishaq Dar asked why did the difference become so much, Malik Bostan mentioned that commercial banks are buying dollars for credit cards which have affected the open market.

According to Malik Bostan, Ishaq Dar took a timely decision and issued a circular yesterday in which commercial banks were told that they can buy dollars from inter banks instead of exchange companies.

He said that the banks were buying the dollar at 315 and selling it at 325. According to the bank's calculations, the dollar became cheaper by Rs 27.

The Chairman of the Pakistan Forex Exchange Association said that this is a testing period until July 31 and hoped that the rate of the dollar will fall further, the decision of Ishaq Dar will benefit Hajis a lot.

He said it is not difficult to drop the dollar but to maintain it.