Expectations of foreign investment in projects including Reko Diq, mining, refinery, etc., interest rates remaining stable for the third consecutive time, and increasing foreign exchange reserves led to the dollar weakening against the rupee in both foreign exchange markets last week.

Sentiments remained positive due to reports that the flood did not cause any major damage to the economy, the dollar weakening against other major currencies globally, and the hope of increasing inflows into the country.

The hope of approval of a $1 billion installment and climate financing from the IMF continued to influence the market, while the continuous crackdown on dollar smuggling limited demand from buyers.

During the weekly trading session, the dollar, pound, riyal, dirham decreased in interbank, the euro appreciated, while the riyal remained stable.

In the open market, the dollar, euro, pound, riyal, dirham decreased, and the euro increased.

In a week, the difference between the dollar’s interbank and open rate decreased to Rs 1.05.

During the weekly trading session, the dollar fell by 10 paisa to Rs 281.45 in the interbank market, while the dollar fell by 10 paisa to Rs 282.50 in the open market.

The interbank rate of the British pound fell by Rs 2 to Rs 379.56, while the value of the British pound in the open market fell by Rs 1.12 to Rs 386.32.

The value of the euro currency in the interbank increased by 51 paisa to Rs 330.91, while the value of the euro in the open market increased by 16 paisa to Rs 335.05.

The value of the rial in the interbank remained unchanged at Rs 75.04, while the value of the rial in the open market decreased by 21 paisa to Rs 75.82.

The value of the dirham in the interbank market decreased by 04 paisa to Rs 76.62, while in the open market, the value of the dirham decreased by 26 paisa to Rs 77.88.