Interbank market observed calmness after the stormy session. However, the open market in foreign currency has seen an erratic behavior.
The Dollar rate in Pakistan significantly increase as on Tuesday the Pakistani Rupee fell to all time low value. The dollar was falling in the evening after the receiving of $10 million remittances into the market.
The interbank market has seen a 7.5% depreciation of Pakistani Rupee against the US dollar. However, the dollar was traded below Rs134 on Wednesday (yesterday).
A currency dealer in the interbank market revealed details about the USD to PKR ratio. He said that they traded dollar in the range of Rs133.60 to Rs133.75 while it closed at Rs133.80.
However, the open market saw volatility during the day. However, the currency dealers were selling dollars as high as Rs137 in early session of the market. The buying rate was about Rs133 which meant the dealers were earning Rs4 per dollar on buying and selling rates.