Friday, February 28, 2020

Rupee eases a bit on ample supply

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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]
After gaining around five paisas in the early trade, the rupee closed down at Rs. 138.76 to a dollar on Monday compared with Saturday’s closing of Rs138.78 in interbank foreign exchange market.
Receipt of $1.0 billion from Saudi Arabia last week had built up market sentiment, however higher demand for import payments and corporate sector corrected the market.
Malik Bostan Khan, President Forex Association of Pakistan (FAP) said buying and selling of dollar recorded at Rs. 138.30/Rs. 138.70 as against last closing of Rs138.60/139.00 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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