Dollar edges down 3 paisas in interbank market

Karachi  (Web Desk):  At the close of the business week, the US dollar experienced a slight decrease in value in the interbank market. According to the State Bank of Pakistan, the dollar dropped by 3 paisas to close at 281.17 rupees on Friday, compared to 281.20 rupees the previous day.

Experts attribute the stability in the Pakistani rupee to an improvement in foreign exchange reserves and a reduction in import-related pressure. Additionally, the consistent monetary policy of the central bank and easing external payment obligations have provided support to the local currency.

Similarly, in the open market, the dollar saw a minor decline, selling at 282.50 rupees after a small decrease.

Financial analysts suggest that if the current trend continues, the rupee is likely to strengthen further in the coming days.