Intra-day update: US dollar gains minor 9 paisas in interbank market

KARACHI: The US dollar is slowly and gradually inching ahead of the Pakistani rupee, as it has registered an increase in value for the third consecutive day after a nominal decrease last week.

On Wednesday morning, the dollar gained a minor nine paisas in the interbank market.

It started the new trading session with a value of Rs288.

On Tuesday, the American dollar continued its upward flight against the Pakistani rupee and reached Rs287.91 at the closing time in interbank trading with an increase of 48 paisas.

On Tuesday morning, the dollar had gained 57 paisas in the interbank market and attained a value of Rs288, as per currency dealers.

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However in open market it has reached Rs 294, according to forex.com.

Internationally, the US dollar remained on the front foot in Asia on Wednesday, holding on to overnight gains against major peers as investors sought the safety of the currency amid risks from a floundering Chinese economy and downgrades for US banks.

This is an intra-day update