Tuesday, November 24, 2020

Rupee sheds 10 paisas against USD

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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 lost ten paisas against the US dollar to close at Rs138.35 on Friday compared with the last closing of Rs138.25. However, there was no change in the cash free market.

 

The rupee had gained over 50 paisas in the week owing to lesser demand and inflows from friendly countries, which lifted market sentiments

 

However, the US dollar adjusted on Friday and gained ten paisas. Moreover, the demand from importers and corporate sector was met by remittances and export receipts.

 

Malik Bostan , President Forex Association of Pakistan said that the buying and selling of US dollar was recorded at Rs138.00/Rs138.50 as against Rs138.00/Rs138.50 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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