The US dollar strengthened in the local open market on Wednesday, with its selling price reaching 281.60, a figure notably higher than the interbank closing rate of 280.76, according to data provided by the Exchange Companies Association of Pakistan (ECAP).
The American currency was being purchased at 281.24 in retail trading. In contrast, the interbank market saw the greenback quoted at a buying rate of 280.56, highlighting the divergence between the two markets.
Other major international currencies also recorded high valuations. The Euro was traded with a buying price of 325.14 and a selling price of 328.08. Similarly, the Pound Sterling was quoted at 369.96 for buying and 373.38 for selling, marking it as the most expensive major currency listed in the daily bulletin.
Key currencies from the Middle East also held firm, with the UAE Dirham available at 76.57 for purchase and 77.30 for sale. The Saudi Riyal was priced at 74.97 for buying and 75.55 for selling.
The Japanese Yen was valued at 1.78 for buying and 1.83 for selling, as per the ECAP communication.