KARACHI: The Pakistan rupee continued to depreciate against the US dollar in the interbank market, ARY News reported quoting SBP.
The local unit lost another 1.46 against the dollar, while it gained ground in the open market.
The dollar was trading for Rs307.10 in the interbank market when the market closed, rising by 0.48 per cent from the previous close of Rs305.64, according to State Bank of Pakistan’s data.
Interbank closing #ExchangeRate for todayhttps://t.co/FINffr34QO#SBPExchangeRate pic.twitter.com/lqTVJy7m1k
— SBP (@StateBank_Pak) September 5, 2023
In the open market, however, it was being traded at Rs324 in the afternoon.
Earlier today, it emerged that the US Dollar (USD) rate dropped in the open market after an administrative crackdown and deployment of plain-clothed law enforcement personnel at exchange companies across the country.
“The law enforcement personnel monitoring dollars’ sale and purchase in exchange companies,” secretary exchange companies body Zafar Paracha has said.
Plain-clothed law enforcement personnel have been deployed on the premises of exchange companies across the country.
“We had requested to the administration to deploy plain-clothed officials outside the exchange companies,” President Forex Association of Pakistan Malik Bostan stated. “Our members had complained that the black mafia agents giving headache to them,” he said.
“These agents grab the people, coming to the exchange companies for dollars, outside the premises of the companies,” Bostan stated.
