Karachi – The Canadian Dollar finished the day with a noticeable difference between the official and retail markets. The interbank market closed with the CAD at a buying rate of Rs. 201.47 and a selling rate of Rs. 201.83. In contrast, the open market saw a much wider spread, ending the day at Rs. 199.46 for buying and Rs. 208.84 for selling.
This wide spread at the day’s end reflects the specific demand for the CAD in the retail sector, often driven by educational and immigration requirements. For the broader economy, the interbank stability helps in regulating the cost of agricultural imports from Canada. However, the higher selling rate in the open market highlights the increased cost for the general public when dealing with North American transactions outside of the official banking channels.
