Rupee bucks the trend vs USD

KARACHI: Rupee Wednesday, in the interbank market, edged up against US dollar to touch Rs87/USD, while in the open market it closed at Rs88/USDr, Geo News reported.

Chairman Exchange Companies Association, Malik Bostan told Geo News that greenback’s supply has improved after FIA cracked whip upon its illegal trafficking.

He said a depreciating dollar spurred exporters and overseas Pakistanis to offload their currency holdings, whereas its demand also fizzled out in the market.

On the other hand, according to forex market dealers, greenback in the interbank market closed at Rs86.92/USD with a gain of Rs0.30.