ISLAMABAD: After almost a week of losing value, the American dollar strengthened against the rupee in both interbank and open markets.
In the interbank market, the greenback gained Rs1.67 at the opening day of the business week.
After gaining some strength, the American currency closed at Rs279.26 according to currency dealers.
The mighty American currency gained 66 paisas in the interbank trading, and reached a value of Rs278.25 against the rupee.
However, later the dollar saw a big jump and strengthened by Rs1.41, trading at Rs279 against the rupee.
The currency then later gained Rs1.45 to trade at Rs279.4, as per currency dealers.
In the open market, the dollar recovered by Rs1 to reached Rs284.
On the last day of the previous trading week, currency dealers reported a significant surge in the dollar’s value by Rs1.4 on the last day of the business week, further widening the gap between the two currencies.
Following this increase, the new price of the dollar in the interbank market reached 277 rupees and 50 paisas.