Rupee gains in strength against dollar by 61 paisas
Pakistani rupee gained 61 paisa against the US dollar on the interbank market on Tuesday.
The local unit appreciated by 0.61 paisa to and is currently trading at 159.30 against the greenback on the interbank market, according to foreign currency dealers. On Monday, both in the interbank as well as in the free market, the US dollar recorded a decline against Pakistani rupees.
Last week the Pakistani rupee registered an appreciation of Rs3.57 on the interbank market in its value against the US dollar.
The value of the rupee tipped Rs 0.42 against the US dollar on the interbank market at the beginning of day trading. The US traded at about PKR 158.75 on the interbank market.
Likewise, the US dollars have also depreciated Rs1 in the free market and are currently trading at PKR 159.50.
Earlier in April, on Wednesday today Pakistani currency rose by Rs 2.5 to Rs 158.5 over the US dollar on the inter-bank market.
The price of the US dollar is falling due to the dramatic decline in world market oil prices. In Pakistani rupees the buying rate of US dollars is Rs 158.5 while the selling rate is 161.