Sunday, September 25, 2022

Rupee shrinks against US dollar


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 4 paisa against US dollar to close at Rs141.50 on Thursday compared with the last closing of Rs141.46 in inter-bank market.

The demand and supply situation in the market remained balanced as demand by importers and corporate sector was offset be export receipts and remittances.

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

Rupee remained stable against dollar in the open market.

Malik Bostan Khan, President Forex Association of Pakistan said the buying and selling of US dollar was recorded at Rs142.50/Rs143.00 as against last closing of Rs142.50/Rs143.00 in cash free market.

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