| KARACHI: The US dollar gained some lost ground against the rupee in the open market on Friday mainly on account of shortage of foreign currencies.
Exchange Companies Association of Pakistan (ECAP) reported the dollar price at Rs300 compared to Rs299 a day before, but the greenbacks were not available in most of the currency shops.
Some forex companies were selling smaller amounts of dollars in the range of Rs300 to Rs303. The quoted rate of ECAP was not applicable in the market.
The currency dealers said the trading further slowed due to no inflows in the open market. The grey market which has developed its range attracts dollars at a higher cost and offers significantly more money than the exchange companies. |
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