- The rupee weakened towards the greenback within the interbank market on Monday.
- Throughout the earlier session, the rupee traded within the vary of 159.75 and 160.12.
KARACHI: The shopping for price of the US greenback was Rs159.8 whereas its promoting price was Rs160.6 on Tuesday, January 5 on the opening of Pakistan’s foreign money market.
On Monday, the rupee weakened towards the greenback within the interbank market.
The rupee closed at 159.98 towards the greenback, in contrast with the earlier closing of 159.83. It weakened by 0.09% or 15 paisas, through the session.
Within the open market, the rupee ended at 160.20 versus the buck, in contrast with the earlier closing of 160.30.
Sellers stated the native unit misplaced some floor within the first session of 2021 resulting from elevated greenback demand from importers and the company sector for funds.
The rupee traded within the vary of 159.75 and 160.12 through the session.
“We saw demand from the greenback in active trading today. There was a payment pressure, as trading resumed after a long weekend,” a foreign money supplier stated.
Learn extra: US greenback being offered at Rs159.8 on January 4
“We expect a downside pressure on the currency to continue in the next few sessions, amid import payments. Later, the rupee could appreciate marginally against the greenback.”
In the meantime, the next have been the charges of the US Greenback, Saudi Riyal, UK Pound, the UAE’s Dirham, and different foreign currency within the open market.
|Foreign money||Shopping for||Promoting|
|UK Pound Sterling||215.5||218.5|