Rupee eases by 20 paisas in open market

Rupee eases by 20 paisas in open market

KARACHI: The rupee ended down by 20 paisas against the US dollar in open market on Saturday owing to weekly holiday demand.

The buying and selling of dollar was at Rs138.20/Rs138.70 as exchange rate of Rs138.00/Rs138.50 a day earlier.

The local currency was ended under pressure a day earlier in the interbank foreign exchange market and depreciated by 16 paisas to the US dollar.

The exchange rate ended at Rs138.40 to the dollar from previous day’s closing of Rs138.24 in interbank foreign exchange market.

The interbank foreign exchange market was initiated in the range of Rs138.25 and Rs138.35.

The market recorded day high of Rs138.40 and low of Rs138.30 and closed at Rs138.40.

Pakistan has suffered challenging fiscal situation over the period of last one year.

According to the finance ministry revaluation losses due to appreciation of international currencies against US Dollar and depreciation of Pak Rupee against US Dollar increased the total public debt by around Rs 1.2 trillion.

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