Tuesday, October 20, 2020

Rupee shrinks against US dollar

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Zain Zubair
Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]

Pak rupee shed 07 paisas against US dollar to close at Rs138.90 on Wednesday compared with the last closing of Rs138.83 in inter-bank market, as demand and supply situation remained balanced.

A sense of uncertainty prevails in the market resulting in minor fluctuations in the rupee value.

The demand by the importers and corporate sector was offset by flow of remittances and export receipts.  Rupee remained stable against dollar in the open market also.

Malik Bostan Khan, President Forex Association of Pakistan said the buying and selling of US dollar was recorded at Rs138.30/Rs138.80 as against last closing of Rs138.30/Rs138.80 in cash free market.

 

Zain Zubair
Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]

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