The dollar rate in Pakistan remained stable at Rs. 298.82 against the Pakistani rupee (PKR) on Thursday, September 14, 2023, in the interbank market. This is the same rate as yesterday, September 13, 2023.
The open market rate for the dollar was also unchanged at Rs. 300.
The State Bank of Pakistan (SBP) sets the interbank rate, which is the rate at which banks trade dollars with each other. The open market rate is the rate at which individuals and businesses can buy and sell dollars from currency exchange bureaus.
The stability of the dollar rate is a positive sign for the Pakistani economy. It means that the country is not facing any major economic challenges that would cause the value of the rupee to depreciate.
However, the dollar rate is still higher than it was a few months ago. In June 2023, the dollar rate was Rs. 285. This means that the rupee has lost value against the dollar in recent months.
The government is taking measures to stabilize the rupee, such as raising interest rates and reducing imports.
In the meantime, businesses and consumers should be prepared for the possibility of further depreciation of the rupee. This could make imports more expensive and could also lead to inflation.