USD to PKR rate in Pakistan increases by Re0.50 to Rs281.50 in open market

KARACHI: The US dollar’s exchange rate in Pakistan increased by 50 paisa (0.50 rupee) to Rs281.50 in the open market on Wednesday, (Oct 25), according to the Exchange Companies Association of Pakistan (ECAP). On Tuesday, the US dollar was traded at Rs281.50 in the open market.

As reported by currency dealers, the rupee was listed at Rs281.5 for selling and Rs278.5 for buying purposes. On Tuesday, the closing rates were Rs281.5 for selling and Rs278.5 for buying.

In the inter-bank market on Wednesday, the rupee was valued at 279.

It is important to note that one of the structural benchmarks set by the International Monetary Fund (IMF) stipulates that the disparity between exchange rates in the inter-bank and open markets should remain below 1.25%.