Karachi:
The dollar continued to advance once again in both foreign exchange markets on Wednesday, driven by factors such as the dollar's strengthening against other major currencies globally, a possible increase in duty rates on US imports after the Trump administration took office, and possible sanctions on Chinese and Russian products.
Positive news such as the World Bank's indication of providing a $40 billion loan to Pakistan under a 10-year partnership plan, a Saudi company's interest in investing in the Reko Diq project, and the issuance of Panda Bonds in June were ignored by both foreign exchange markets.
At the end of the trading session in the interbank market, the dollar closed at Rs 278.76, up 04 paisa, while in the open currency market, the dollar closed at Rs 280.67, up 15 paisa.