| KARACHI: Once again the dollar breached the Rs300-barrier in the open market on Wednesday, widening the exchange rate differential to over Rs14 compared to the interbank market.
Currency dealers said the shortage of dollars was the main reason for the price hike, however, other factors also influenced the exchange rate in the open market.
The dollar was traded as high as Rs301 in the open market while the Exchange Companies Association of Pakistan (ECAP) reported the closing price as Rs299.70. This rate was Rs14.30 higher than the interbank rate of Rs285.40 against the dollar on Wednesday.
On Tuesday, the rupee remained stable against the dollar and closed at 284.96 in the interbank market. |
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