The US dollar showed significant strength in the open market on Wednesday, and its selling price crossed the 280 mark, reflecting a widening gap with the official interbank market.
According to the latest data released on Wednesday by foreign exchange, the US dollar was quoted between 279.46 for buying and 280.27 for selling. This rate is quite different from the interbank figures, where the US currency was recorded at 279.21 for buying and 279.41 for selling.
Other major international currencies also showed a higher value against the local unit. The Euro was traded in the open market in the range of 322.90 to 326.31.
Similarly, the British Pound Sterling also remained a high-value currency, exchanging between 373.12 and 376.89.
In the movement of regional currencies, the UAE Dirham was recorded at 75.87 for buying and 76.77 for selling. The Saudi Riyal also showed a similar trend, quoted between 74.01 and 74.91.
Meanwhile, the exchange rate of the Japanese Yen was noted between 1.74 and 1.80.