Rupee loses 86 paisas against dollar
The exchange rate of dollar surged by 86 paisas in interbank, State Bank of Pakistan (SBP) reported on Tuesday. The dollar exchange rate closed at Rs157.44 as compared to Rs156.44. In two days, it has gained Rs3.20.
Earlier in the day, the dollar gained Rs1.17 against the rupee in the inter-bank rate, as one greenback was traded for Rs157.75 in early trading.
On Monday, the dollar had gained Rs2.34 against the rupee amid a sharp decrease in oil prices and the downward trend in stock exchange markets.
The sharp rise in the dollar price was witnessed, as it was available for Rs156.58 against the previous level of Rs154.24.
On the other hand, forex dealers had said the dollar rose by 70 paisas in the open market and was being traded at Rs155.
The latest surge in the dollar price followed the slump witnessed by the stock exchange earlier on Monday.