Summary Pakistani rupee strengthened in the open market as exchange companies import dollars
KARACHI: (Dunya News) – Dollar’s influx into Pakistan has strengthened Pakistani rupee in the open market as exchange companies import the American currency, reported Dunya News.
Dollar’s price in the open market is stable at Rs. 103.10 while Saudi Riyal has increased by 15 paisa and is now being sold at Rs. 27.35. According to Exchange Companies Association, dollar’s demand has doubled since June 30.
Due to Hajj preparations and withholding tax, the demand of the American currency has increased from 50 million dollars to 100 million dollars monthly. However, import of dollars by exchange companies helped meet the demand while keeping the Pakistani rupee stable.
