The dollar reached 278 rupees and 50 paise in the interbank market.

In today’s interbank market, the American dollar remained moderately expensive against the Pakistani rupee, reaching Rs. 278.50.

Currency dealers reported a 20 paisa increase in the value of the American currency in the interbank market, resulting in the dollar being sold at Rs. 278.50.

At yesterday’s close of business, the dollar stood at Rs. 278.30, while in the open market, it’s currently at Rs. 279.59.

It’s worth noting that in its May report, the IMF estimated the rupee’s value at Rs. 328.4 against the dollar, around 16 percent higher than the year’s average rate of Rs. 285 per dollar.

Meanwhile, there was a positive trend in the stock exchange on Thursday, with the 100-index recording a significant increase of 263 points, reaching 74,482 points.