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Dollar rate rises after fluctuations in the market

May 29, 2019
 

The rupee has been on the rise for the past couple of days. It opened in the open market on Wednesday Rs0.50 higher against the dollar.

The dollar is being traded at Rs150.50 in the open market.

The interbank rate, however, was Rs0.92 lower. The interbank dollar rate is now Rs149.30.

The rupee appreciated by Rs0.53 against the dollar on Friday. It closed on Friday at Rs150.91 in the interbank market and Rs151.70 in the open market.

Related: Dollar drops against the rupee

The value of the rupee dropped soon after Pakistan signed a three-year $6 billion bailout agreement with the IMF. It touched its highest rate of Rs153 in the open market on May 21.

The stock market has also improved, going up to 3,600 points. Market capitalization also increased by Rs120 billion.

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