Rupee further loses ground against US dollar

The US dollar Monday was again making gains against the rupee in inter-bank rate during the first business day of the week.

According to State Bank of Pakistan, the US dollar gained 61 paisas in the inter-bank market at the close of the day and one dollar was available for Rs164.85.

However, Pakistan rupees gained ground against Euro and UK’s sterling pound. The value of the Euro decreased by 27 paisas as it was traded for Rs185.55. The value of the British pound also decreased by 27paisas and was available for 206.52.

In the open market, the US dollar gained an increase of 30 paisas and was available for Rs165. Euro saw a half-rupee decrease in its value in the open market to Rs184.5 while British pound’s value remained the same as it was being traded for Rs207 in the open market.