Tuesday, July 7, 2020

Rupee shed 47 paisas on interest rates uncertainty

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Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]
Pak Rupee shed 47 paisas against US Dollar on Friday as uncertainty over the interest rate hike in the monetary policy, to be announced later in the day, kept the local currency under pressure.
Rupee closed at Rs140.83 compared with the last closing of Rs140.36 as demand from importers and corporate sector remained higher ahead of the weekend. Export receipts and remittances maintained the usual flow.
Rupee shed 80 paisas against the greenback in the cash free market. Malik Bostan Khan, President Forex Association of Pakistan, said the buying and selling of US Dollar was recorded at Rs141.30/141.80 as against last closing of Rs140.50/141.00 in cash free market.
Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

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