KARACHI – The Pakistani currency, the rupee, secured advances for a second successive day on Friday versus the US dollar in the interbank arena.
The domestic money ascended by 23 paisas within the interbank market, while the US dollar concluded at Rs286.97, contrasting with the prior day’s Rs287.20.
This occurrence transpired as favorable feelings dominated the market subsequent to the State Bank of Pakistan (SBP) permitting currency exchange firms to bring in dollars from foreign nations for sustaining the equilibrium between demand and supply, consequent to the removal of import constraints.
Also Read: Today Currency Exchange Rate in Pakistan – August 4, 2023
The central bank has released a circular declaring that until December 31, 2023, money changers can bring in physical US dollars. Nonetheless, they must adhere to the stipulation that the cumulative imported cash value must not surpass half of their export transactions.
“Exchange businesses must guarantee that their financial records accurately record all activities connected to cash imports.”