Dollar down by two rupees in open market

By: News Desk      Published: 11:11 AM, 31 Aug, 2020
Dollar down by two rupees in open market

The US dollar lost 87 paisas against the rupee inter-bank exchange rate on Monday as the market resumed business after the weekend, reported 24NewsHD TV channel.

As soon as trading started, the dollar was down by 50 paisas. Later, the world’s dominant currency ended the session at Rs166.23 with a loss of 87 paisas.

Similar trend was witnessed in open market where the rupee gained Rs2 after which the dollar was available for Rs167.

Last week on August 26, the dollar had set a new record against the rupee as its exchange rate jumped to Rs168.43 after a gain of six paisas in inter-bank trading.

Same was the case in open market where the dollar was available for Rs169 following its value going up by 20 paisas.

However, the dollar did not make any further gains and have been losing some of its value against the local currency since then.

It means the dollar made an overall gain of 75 paisas in inter-bank rate while there was no net change in its value in open market.

The other hand, the value of the British pound reached Rs223 while Euro fell by 50 paisas reached Rs199. 

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