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Dollar batters Pak rupee with 10 paisa gain

KARACHI: The Pakistani rupee has further lost its value against US dollar as the market is still confused about the political situation of the country and speculative buying is affecting the real value of the rupee.

The US dollar strengthens 10 paisa against rupee in inter-bank market to reach 102.3; however, it sheds 10 paisa in open market to reach 102.4 on Wednesday.

Financial Analysts were of the view that the latest political development, the consensus between major political stakeholders to protect the parliament and democracy, would bode well for the market overall “Pakistani currency which remained stable for some time, is getting volatile because of the political standoff and it might impact the inflation going forward,” they added.

On Tuesday, the US dollar gained Re 1 against Pakistani rupee and rupee reaches at 102.2 against dollar in inter-bank market as tension continues to grip Islamabad after violence broke out on Saturday night.

On Tuesday, the rupee weakened Re 1 in inter-bank to reach at 102.2 and 15 paisa to reach 102.5 against US dollar.

inter-bank market open market Pakistani Rupee political development US dollar 2014-09-03
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