Karachi September 7 2023: Pakistani Rupee on Thursday was strengthened by PKR 2.03 against the US dollar in the interbank trading against the previous day’s closing of PKR 306.98 as central bank introduces structural reforms.
In Open market, dollar drops PKR 26 in last three trading sessions to trade at PKR 307 (PST 11:45).
To provide better services to general public and bring transparency & competitiveness, SBP has introduced structural reforms in the exchange companies’ sector. As part of these reforms, leading banks actively engaged in foreign exchange business will establish wholly-owned exchange companies. Existing Exchange Companies will be consolidated into a single category. Their minimum capital requirement has been increased to PKR 500mn.
In the interbank market, the Pakistan Rupee has dropped by PKR 2.03 or 0.7 percent, bringing its trading rate to 304.54 (PST 11:40) against the Dollar. Notably, during the previous session, the Rupee concluded trading at 306.98 against the Dollar in the same market.
In open market, gains PKR 26 rupees in last three days from Monday closing of PKR 333 against the dollar. The buying and selling rates of the dollar in the open market stood at PKR 307 and PKR 310 respectively. Moroever, Pound drops below PKR 400 with buying and selling rate of PKR 398 and PKR 402 in open market.