KARACHI: Pakistani banks have announced to settle Debit/credit card transactions on international merchants and websites at the open market dollar rate, ARY News reported.
The banks in an announcement informed customers that they can only settle debit/credit card transactions on international merchants/websites by purchasing dollars from the open market. Hence the conversion rate on these transactions is applied according to the prevailing open market rate.
Bankers said the announcement was in response to various customer complaints regarding higher exchange rate.
Read more: PKR maintains downward momentum against US dollar
he Pakistani rupee’s downward trend continued on Thursday as the local currency lost Re0.17 against the US dollar in the interbank market.
The local currency closed at Rs227.12 per dollar, according to the State Bank of Pakistan (SBP). This equates to an appreciation of 0.07 per cent from yesterday’s close of Rs226.95.
