Dollar depreciates further in Pakistan open market amid import restrictions

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KARACHI: As markets opened on Tuesday, the dollar shed a further Rs2 in the interbank market after touching a record-low of Rs122.4 yesterday.

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Dollar was trading at Rs122.80 (buying) and Rs123 (selling) as the interbank market opened on Monday. Toward midday, the foreign currency gained Rs1.45 to reach Rs124.45 (selling).

As the market opened, the Pakistan Stock Exchange (PSX) witnessed a negative trend. The benchmark KSE-100 index lost 400 points to reach 43,170 points.

Some economists are of the opinion that the dollar price shift is a temporary move driven from an anomaly created in the market.

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