The US dollar sheds Rs1.28 against Pakistani rupee in interbank trading on Tuesday morning, ARY News reported, quoting forex dealers.

USD dropped to Rs275.55 in the interbank trading from 276.8.3 rupees, foreign exchange dealers said.

The US currency also dropped by 50paisas in the open market and trading at Rs276.50 from 277 rupees.

The greenback is being sold to importers at Rs275.96 by the banks, the forex exchange dealers said.

Last week, the US dollar shed Rs5.07 against Pakistani rupee in interbank trading.

Read more: US dollar sheds Rs 5.07 in week against Pakistani rupee

USD dropped to Rs277.62 in the interbank trading from 282.69 rupees the week ended on Friday (October 13).

The State Bank of Pakistan (SBP) on Wednesday suspended the authorisation of five Exchange Companies with immediate effect due to a violation of regulatory instructions.

The five companies were: International Exchange Company–B (Pvt) Limited, World Wide Exchange Company –B (Pvt) Limited, World Exchange Company –B (Pvt) Limited, Universal Exchange Company –B (Pvt) Limited and United Exchange Company –B (Pvt) Limited.

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The US dollar sheds Rs1.28 against Pakistani rupee in interbank trading on Tuesday morning, ARY News reported, quoting forex dealers.

USD dropped to Rs275.55 in the interbank trading from 276.8.3 rupees, foreign exchange dealers said.

The US currency also dropped by 50paisas in the open market and trading at Rs276.50 from 277 rupees.

The greenback is being sold to importers at Rs275.96 by the banks, the forex exchange dealers said.

Last week, the US dollar shed Rs5.07 against Pakistani rupee in interbank trading.

Read more: US dollar sheds Rs 5.07 in week against Pakistani rupee

USD dropped to Rs277.62 in the interbank trading from 282.69 rupees the week ended on Friday (October 13).

The State Bank of Pakistan (SBP) on Wednesday suspended the authorisation of five Exchange Companies with immediate effect due to a violation of regulatory instructions.

The five companies were: International Exchange Company–B (Pvt) Limited, World Wide Exchange Company –B (Pvt) Limited, World Exchange Company –B (Pvt) Limited, Universal Exchange Company –B (Pvt) Limited and United Exchange Company –B (Pvt) Limited.