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Dollar gains 20 paisa against rupee in open market

Dollar gains 20 paisa against rupee in open market

KARACHI: The US dollar sold at Rs 101.7 in interbank market and 102.25 in open market. Pakistani rupee weakened in open market as it shed 20 paisa against dollar on the first day of trading.

As per details, US dollar strengthened 20 paisa against rupee in open market to reach 102.25 on Monday.

Financial analysts were of the view that investors and traders were comforted as they sensed a thaw in the political crisis since both the negotiating teams – government vs Imran Khan’s led Pakistan Tehreek-e-Insaf and Tahirul Qadri’s Pakistan Aawami Tehreek — claim progress in talks.

Talking to reporters following the three-hour meeting which held at the residence of PTI secretary general Jehangir Tareen — PTI vice chairman Shah Mehmood Qureshi declared that “meaningful dialogue has begun” and that both sides were making “serious efforts to rescue the nation from the prevailing impasse”. This was the first time the PTI expressed such positive sentiments about the fate of the talks.