Wednesday, October 28, 2020

Rupee sheds 70 paisas in open market as talks with IMF proceed

Featured

Armenian defense denies targeting civilian sites in Azerbaijan

The Armenian Ministry of Defense denied targeting civilian sites in Azerbaijan, according to an urgent news broadcast, Azerbaijan announced...

Harris promised to end Trump’s policies on asylum restrictions and ensure immigrant dignity

Democratic candidate for US Vice President Kamala Harris promised to work with Democratic presidential candidate Joe Biden to put...

Covid-19 vaccine could be available by end of the year: Fauci

Before the end of this year, it will be possible to know if there is a vaccine against COVID-19...
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 70 paisas in the open market at 05.00 PM trading carried on Monday. Open market  buying 138.50 and selling at Rs139.20. In inter-bank market, as demand from importers and corporate sector was higher on the first day of week. Rupee devalued 60 paisas.
After a continuous bullish streak recently, the local currency adjusted against the greenback. Moreover, the talks between PM Imran Khan and IMF Chief in Dubai led to rumors and speculation in the market. The market is abuzz that a program with IMF has been agreed upon and there would be further devaluation among other conditions.
The demand remained higher, while the flow of remittances and export receipts continued as per normal trend.  Rupee shed 70 paisas 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 Rs138.50/Rs139.20 as against last closing of Rs138.20/Rs138.60 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]
- Advertisement -

Latest News

Armenian defense denies targeting civilian sites in Azerbaijan

The Armenian Ministry of Defense denied targeting civilian sites in Azerbaijan, according to an urgent news broadcast, Azerbaijan announced...

Harris promised to end Trump’s policies on asylum restrictions and ensure immigrant dignity

Democratic candidate for US Vice President Kamala Harris promised to work with Democratic presidential candidate Joe Biden to put an end to the policies...

Covid-19 vaccine could be available by end of the year: Fauci

Before the end of this year, it will be possible to know if there is a vaccine against COVID-19 that is "safe and effective"...

Belarus: Opposition leader in quarantine after coming into contact with an infected

The leader of the Belarusian opposition, Svetlana Tikhanovskaya, announced that she is currently under quarantine after her contact with the Slovenian Foreign Minister Anzi...

50 million Americans voted by mail in the presidential election so far

More than 50 million Americans cast their ballots in the US presidential election by mail 11 days before the start of the race, a...

Related News