Tuesday, October 27, 2020

Rupee weakens 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]

Pakistani rupee shed three paisa against US dollar to close at Rs141.50 on Monday compared with the last closing of Rs141.47 in inter-bank market.

The demand and supply situation in the market remained balanced as demand by importers and corporate sector was  offset be export receipts and remittances.

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

Rupee remained flat 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 Rs141.80/Rs142.30 as against last closing of Rs141.80/Rs142.30 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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