KARACHI: The US dollar kept appreciating against the local currency as it gained Rs1.26 in the interbank market on Monday.

The dollar closed at Rs221.92 in the interbank market from Rs220.66 the previous session, reported the State Bank of Pakistan (SBP). However, the currency dealers reported the dollar price at Rs223.

The currency dealers sell their surplus dollars in the interbank market.

The currency market was willing to hear any positive outcome of the talks with the IMF and friendly countries.

The open market reported a dollar price of Rs230 which was much higher than the interbank market. This wide difference was due to a shortage of dollars in the open market.

Published in Dawn, August 30th, 2022