Tuesday, July 5, 2022

Rupee sheds 45 paisas against US dollar on fiscal uncertainty


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 45 paisas against US dollar to close at Rs139.35 on Thursday compared with the last closing of Rs138.90 in inter-bank market, despite the central bank reported $6.0 million in its reserves.

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

The demand was also higher by the importers and corporate sector, which was offset by flow of remittances and export receipts.

Rupee shed 40 paisas 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 Rs138.70/Rs139.20 as against last closing of Rs138.30/Rs138.80 in cash free market.

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