Rupee Depreciates Against Foreign Currency

(@fidahassanain)

Rupee depreciates against foreign currency

The latest reports say  the US dollar closed at Rs166.26 after a gain of nine paisas while the same condition was of the euro which gained 39 paisas and was available for Rs197.57.

KARACHI: (UrduPoint/Pakistan Point News-Sept 15th, 2020) US dollar, Pound and euro made gains against Pakistan rupee in both inter-bank and open market trading on Tuesday.

The Dollar closed at Rs166.26 after a gain of nine paisas while the same condition was of the euro which gained 39 paisas and was available for Rs197.57.

Meanwhile, the pound sterling proved to be best the performer as it ended the session at Rs214.20 after going up by 59 paisas. Tuesday’s session means that the dollar has gained 20 paisas, the euro Rs1.13 and the pound Rs1.20 paisas during the first two days of this week. As far as the open market is concerned, the dollar was up by 10 paisas and the pound by 50 paisas with the respective exchange rates recorded at Rs166.40 and Rs215.50.

However, there was no change in the value of euro which remained stable at Rs197.50.

Fida Hussnain

Fida Hussnain is a lahore based journalist. He writes on politics, religion, social issues and climate change. He is also a research fellow at University of Gujrat.