USD to PKR rate in Pakistan makes some recovery in open market

KARACHI: The Pakistani rupee against the US dollar recovered some ground in the open-market, and was selling at 330 during trading on Monday.

Dealers  said the rupee was being quoted at 330 for selling and 327 for buying purposes for customers in the open-market.

Earlier during the day, the USD was being traded at 334.5 for selling and 331.5 for buying.

The Exchange Companies Association of Pakistan (ECAP), however, quoted rates at Rs329 and Rs326 during trading. At the end of trading, it said the rates were Rs328 and Rs325.

In the interbank market, the rupee closed above the 305 level against the US dollar.

Currency dealers said that the respite comes amid Chief of Army Staff (COAS) Asim Munir’s recent meeting with the business community on Sunday.