On the last trading session, the dollar was trading at Rs148.8 and Rs148.9 in the open and interbank markets respectively.
Karachi -- The US dollar on Monday firmed against the Pakistani rupee, gaining Rs1.50 in the interbank market to Rs150.40.
Some dealers said that the difference of Rs2 to Rs3 between the value of the dollar in the open and the interbank markets was eliminated which was a positive sign for the rupee.
According to currency dealers, the demand for the greenback increased in the interbank market due to upcoming Eidul Fitr holidays.
The investment represents an increase in the risk capital of Frontclear and allows Frontclear to extend its efforts to support the development of more inclusive and more liquid interbank markets in emerging and frontier economies.
Frontclear is a financial markets development company focused on catalyzing stable and inclusive interbank markets in emerging and developing countries (EMDC).
Foreign exchange dealers said that the rupee gained impressively by one rupee and 75 paisas against the greenback in early morning trade in the open and interbank markets
The central bank follows a system of regular open market operations on Tuesdays and Thursdays to calibrate liquidity levels in the interbank markets
KuwaitCOs central bank confirmed on Wednesday it is withdrawing a temporary facility to cover dinar positions in the interbank markets
Interbank claims on nonrelated depository institutions in the United States, both loans to and balances due from nonrelated depository institutions, amounted to only about $12 billion, or 4 percent of total assets, a relatively small component for multinational banks that tend to be active in interbank markets
. These offshore branches of non-U.S.
True repo structures make interbank markets
more liquid and inclusive and enable all participating banks to have expanded access and in turn allow them to better serve the needs of their client base.
The interbank market
was closed on Saturday, but in the open market where retail clients buy and sell foreign exchange, the US currency lost another Re1 and was traded at Rs149.