The US dollar demonstrated a notable variance between its interbank and open market rates on Friday, with the greenback trading at a premium in the open market, according to figures released by the Exchange Companies Association of Pakistan (ECAP).
In the open market, the American currency was quoted with a buying rate of 280.38 and a selling rate of 281.00. This contrasted with the interbank market, which recorded a tighter spread with rates of 279.95 for buying and 280.15 for selling.
Other major international currencies also posted high values against the local unit. The British pound sterling was the most expensive currency, with its selling price reaching 379.24 against a buying price of 375.73.
Similarly, the Euro was being exchanged at a selling value of 328.79 and a buying value of 325.58. The Japanese Yen was available for purchase at 1.82, while its buying rate stood at 1.75.
Figures for key Gulf currencies were also documented, with the UAE Dirham’s selling rate at 77.29 and the Saudi Riyal at 75.44. The corresponding buying rates for the Dirham and Riyal were 76.53 and 74.84, respectively.
The comprehensive data provides a transparent overview of the day”s currency trading activities as compiled by the association.