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Weekly review: Rupee sheds 25 paisas against dollar after Eid holidays

Weekly review: Rupee sheds 25 paisas against dollar after Eid holidays

LAHORE: The Pakistani rupee weakened in the following two-trading-day week started after the weekend and Eidul Adha holidays as the US dollar gained 20 paisas in inter-bank and 25 paisas in open market against Pakistani rupee from Thursday to Friday.

As per detail, the value of dollar in inter-bank market was 102.4 on Thursday and 102.6 on Friday against rupee, while, in open market its value was 102.6 on Thursday and 102.95 on Friday, which shows 20 paisas increase in dollar value in interbank and 25 paisas in open market.

Pakistani rupee remained stable against US dollar both in interbank and open market on the first day of trading on Thursday after five days of Eid holidays.

According to local currency market, US dollar remained stable both in interbank and open market at 102.4 and 102.6 respectively.

On Friday, however, US dollar strengthened against Pakistani rupee as rupee lost its value against US dollar both in interbank and open market on the last day of trading.

US dollar, on Friday, strengthened in interbank by gaining 20 paisas and reached 102.6. The dollar also gained 25 paisas in open market to reached 102.85. On Thursday, US dollar remained stable both in interbank and open market at 102.4 and 102.6 respectively.