Dollar slips to Rs154.40 as rupee gains 3 paisa

Observer Report

Pakistani rupee gained 3 paisas (+0.02 percent) against the US dollar in the interbank on Monday.

According to the State Bank of Pakistan, the US dollar opened atRs154.43 and closed at Rs154.40.

Within the open market, the US dollar was traded at Rs155-156. The local currency shed Rs0.95 against the greenback last week.

However, the local unit has gained Rs13.66 against the greenback in the current fiscal year 2020-21 while appreciation has been Rs5.44 in 2021.

Currency experts said that due to the first trading day, the demand for the foreign currency was seen for import and corporate payments.

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