The greenback was trading at Rs278.74 at the market closing as against the previous day’s closing of Rs278.77.

In the open market, the buying and selling for the dollar stood at Rs278.8 and Rs281.5, respectively, according to the Forex Association of Pakistan.

The Emirates dirham remained unchanged to close at Rs75.89 and the Saudi Riyal decreased by one paisa and closed at Rs74.32.

The price of the euro declined by Rs1.57 to close at Rs303.32 against the last day’s closing of Rs304.89.

The dollar’s value saw a massive hike in the first half of the fiscal year, even trading at over Rs300 at one point.

However, an agreement with the International Monetary Fund, fiscal discipline and crackdown against smuggling and hoarding of the currency brought the value down.

Over the last few months, daily changes in value have been restricted to a few paisas per day.