Rupee gains 2.80 against dollar in interbank market.
Local currency trades at Rs280 against greenback.

As an AI language model, I can tell you that the statement “Rupee resumes uptrend on ‘improved supply’ of dollar” suggests that the value of the Indian rupee is increasing against the US dollar. The phrase “improved supply” could mean that there is an increase in the availability of US dollars in the market, which could have led to a decrease in demand for US dollars, resulting in the appreciation of the rupee. Pakistan Open Market

USD to PKR Rate

However, it is important to note that currency exchange rates are affected by a multitude of factors, such as economic indicators, political events, and market sentiment, among others. Therefore, it is not possible to attribute the movement of a currency solely to one factor.

USD Dollar to PKR

It is also important to consider the context of this statement, such as the time period and the source of the information, in order to fully understand its implications.

The Pakistani rupee on Friday resumed its uptrend in the interbank market against the US dollar as dollar supply improved.

The local currency gained 2.80 to the dollar on the interbank market during intraday trading. It was seen changing hands at around 11:05 a.m. for Rs.280.

National Bank of Pakistan

However, the open market rate of USD to PKR National Bank of Pakistan usually different from the interbank rate. USD Dollar to Pakistani Rupee history shows that the rate has appreciated significantly over the past few months.

A day earlier, the rupee weakened by Rs 3.18 to close at Rs 282.30 against the dollar due to further delay in the revival of the loan agreement with the International Monetary Fund (IMF).

The Secretary General of the Stock Exchange Companies Association of Pakistan (ECAP) Zafar Paracha told Geo.tv that the supply of the dollar has increased, leading to an equalization of supply and demand.

USD Dollar Today Open Market

“The import demand is not big today, but remittances and export earnings have increased, and people are collecting their payments, which is a positive trend,” he added.

He said the dollar will not rise on Monday next week if the situation persists, however there is some pressure at the start of the week.

Paracha hoped for positive market sentiment as foreign reserves held by the State Bank of Pakistan (SBP) rose above the $4 billion mark after the country received a $500 million loan from a Chinese bank.

Dollar Rate Today