Today, there was steady forex dealing on Pakistan’s open market. The US dollar was bought at PKR 278.95 and sold at PKR 280.45. Analysts in the market pointed out that the rates show a time of relative steadiness as the government’s spending policies continue to make changes to the economy. The British Pound stayed strong at PKR 341.50 and PKR 345.00, while the Euro traded at PKR 285.75 for buying and PKR 288.50 for selling. Traders saw more demand for the Saudi Riyal and the UAE dirham.
This was probably due to people sending money back to their families at home. Some experts think that focusing on improving the balance of trade could help to calm the forex market even more in the coming weeks.
