Dollar gains 88 paisas against rupee, gold up by Rs400

By: News Desk      Published: 12:14 PM, 28 May, 2020
Dollar gains 88 paisas against rupee, gold up by Rs400

As the market reopened after a long break due to Eid holidays, the US dollar made significant gains against the rupee as it closed trading in inter-bank rate at Rs161.80, reported 24NewsHD TV channel on Thursday.

Earlier, the dollar had closed at Rs160.92 in inter-bank trading last week on Thursday, which was the last working day before Eid.

During early trading, the rupee started the day on a better note as the dollar at one point was available for Rs160.80, meaning it shed 12 paisas against the local currency.

But the dollar bounced back and gained 33 paisas against the rupee by afternoon. It continued the surge even after that and closed the session at Rs161.80.

The past week had seen a stable dollar-rupee relationship with nothing volatile witnessed both in inter-bank trading and open market. However, the dollar made some overall gains against the Pakistan currency.

Meanwhile, the 24 karat gold rate also surged by Rs400 as per tola price reached Rs96,400 on Thursday, said Sindh Sarafa Association, adding that the price for 10 grams of gold was Rs82,647 after an increase of Rs42.

On the other, the per tola price of 22 karat gold stood at Rs75,600 on a day when the per ounce gold price witnessed an increase of $15 in international markets.