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US dollar sheds 50 paisa against rupee

US dollar sheds 50 paisa against rupee

KARACHI: The Pakistani rupee strengthened against the US dollar in inter-bank market as it adds 50 paisa on the last trading day of the week.

Although, the US dollar has strengthened 30 paisa against rupee in open market to reach Rs 102.05 in open market, it lost 50 paisa in inter-bank to reach 101.7 on Friday.

Economic experts analyzed that a major political stakeholders demonstrated their support to protect parliament and democracy, however, the 22-day long sit-ins and political unrest has shed negative impact on the economy of Pakistan.

Moreover, the federal government, in a report submitted to the Supreme Court, claimed that 22-day sit-ins and political standoff cost Rs 547 billion to the national exchequer.

On Thursday, US dollar weakened 10 paisa against rupee in inter-bank market to reach 102.2 and lost 65 paisa in open market to reach 101.