GNN on Google Play Store GNN on Apple App Store
Connect with us

Business

Rupee up against US dollar

Karachi: The US dollar depreciated on the fifth and last day of the trading week in the Interbank and open market Foreign Exchange.

Published

3 years ago

on

By

Rupee up against US dollar
GNN Media: Representational Photo

According to the data released by the State Bank of Pakistan, the dollar has depreciated by 4 paisas in the interbank market. According to Forex dealers, the dollar fell from Rs157.16 to close at Rs157.12 on the interbank market.

Whereas in open market, the buying rate of the US dollar was Rs157.1, while its selling rate was Rs157.9 on Friday.

Dealers said the local unit reversed some of the gains it made in the previous session, as political uncertainty outweighed the impact of positive developments on the economic front.

Moreover, an increase in the trade deficit also hurt the sentiment. Pakistan’s trade deficit widened 24% year-on-year to $2.52 billion in February due to higher imports and a decline in exports.

Continue Reading

Trending