US Dollar Rate in Pakistan Today Touches Rs 294.93 in Interbank Market

BusinessUS Dollar Rate in Pakistan Today Touches Rs 294.93 in Interbank Market

The Pakistani Rupee (PKR) plunged further on Wednesday to touch Rs 294.93 per US Dollar (USD) in the Interbank Market.US Dollar Rate in Pakistan Today Touches Rs 294.93 in Interbank Market

In the morning, the Interbank Market resumed the trading session with the rupee trading at Rs 291.51 against the dollar. By the end of the session, the USD reached Rs 294.93, appreciating by 1.17 percent.

While in the Open Market, the PKR was being traded at 301.5/ 303.5 per USD.

Dollar to PKR Today in Open Market

Currency
Buying
Selling
US DollarRs 301.5Rs 303.5

The further decline in the value of rupee against the dollar can be attributed to the removal of restrictions on Letters of Credit (LCs), leading to an increased demand for the USD and subsequently weakened the PKR.

Additionally, due to its heavy reliance on imported oil, Pakistan is susceptible to the recent steady increase in global oil prices which also has an impact on the rupee value.

Mati
Mati
Mati-Ullah is the Online Editor For DND. He is the real man to handle the team around the Country and get news from them and provide to you instantly.

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