KARACHI: At the opening of the currency market on Friday, March 5, the buying rate of the US dollar was Rs157.1, while the selling rate was Rs157.9.
According to dealers, the local currency reversed some of its gains from the previous session as political instability outweighed the effects of positive economic developments.
A rise in the trade deficit harmed sentiment as well. Due to higher imports and lower exports, Pakistan’s trade deficit increased by 24 percent to $2.52 billion in February.
“Despite several economic positives, there is still a view in the currency market that the rupee has space to appreciate further in the coming sessions,” a currency dealer said.
Meanwhile, the open market prices for the US Dollar, Saudi Riyal, British Pound, UAE Dirham, and other foreign currencies were as follows.
The information was gathered from Pakistan’s Forex Exchange.
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