US dollar gains nine paisas against Pakistan rupee

By: News Desk      Published: 04:57 PM, 24 Aug, 2020
US dollar gains nine paisas against Pakistan rupee

The US dollar rose by 9 paisas to Rs168.37 in the interbank market at the closing time, the State Bank of Pakistan said that on Monday. 

In the interbank market, the euro rose 7 paisas to Rs 198.92 while British pound lost Rs 2 and reached Rs 220.30.

On 21 August, the last working day of the week saw the dollar losing nine paisas in the inter-bank rate but gaining 20 paisas in the open market. 

It meant that the world’s dominant currency closed the week at Rs168.28 and Rs168.80 respectively. 

However, the pound was bullish during trading as it was available for Rs222.30 after gaining Rs2.21 in the inter-bank exchange rate. 

In the open market, the UK’s currency surged by 50 paisas by reaching the level of Rs223. These latest gains by the pound came after it lost Rs3.03 in inter-bank and Rs1.50 in open market exchange rates against the local currency during the previous trading session. 

Meanwhile, the euro ended the day at Rs198.85 in interbank trading and Rs199 in the open market after shedding 10 paisas and 50 paisas respectively. 

It means the dollar gained 35 paisas in the inter-bank rate and 40 paisas in the open market this week. As far as the pound is concerned, the overall gain during the week stood at Rs2.62 in inter-bank trading and Rs2 in the open market. 

On the other hand, the euro was up by 18 paisas in the inter-bank exchange rate while it did not see any overall change in open market trading.