KARACHI: The Pakistani currency Wednesday remained under pressure against the US dollar in cash-free markets.
According to the local currency market, the greenback gained another 10 pasias to reach 104.75 in open market, however, it lost 30 paisas in interbank to be traded at 103.80. On Tuesday, the US dollar gained 40 paisas in open market to reach 104.65 mark.
The State Bank of Pakistan (SBP) bank has directed banks to immediately curb artificial shortage of dollar in the interbank market to stabilise its value against rupee, which has touched 17 month low.
The banks were asked to charge up to 50 percent on cash margins on the letter of credit of luxury imported goods to slow down the demand of dollar in the interbank market.
