Dollar regains lost ground against rupee
Pakistani rupee falls flat against US dollar
After recording an increase in value at the start of business week on Monday, the rupee again fell against the US dollar during the interbank trade.
On the first day of the business week on Monday, the dollar began trading at Rs295.50 in the interbank market with a loss of 28 paisa against the local currency.
The rupee was being traded at Rs297 at 12:52pm today, according to data shared by the Exchange Companies Association of Pakistan (ECAP). The rupee had closed at Rs295.78 on August 18.
However, a little while later, the greenback regained its lost ground and maintained its tight hold on the rupee, and gained a massive Rs2.22 in the interbank market, touching the level of Rs298.
In the open market, the dollar was changing hands for Rs307.
In the 10 days of the caretaker government, the dollar has risen by a huge Rs9.5.
Previously, the US currency gained 72 paisa and was being traded at Rs296.50 against the rupee.
On the last working day of last week, the Pakistani rupee had experienced marginal depreciation against the US dollar during trading.
This also drew attention to the currency’s performance in the open market, where it had crossed the threshold of Rs300 per dollar. – news agencies
