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Dollar gains two paisas against Re

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KARACHI: Pakistani rupee was weakened by 2 paisas (-0.01 percent) more against the US dollar in the interbank for the third consecutive day on Thursday.

According to the State Bank of Pakistan, the US dollar opened at Rs154.77 and closed at Rs154.79. Within the open market, the US dollar was traded at Rs155-155.40. The local currency has shed Rs0.32 against the greenback during the last four days.

However, the local unit has gained Rs13.27 against the greenback in the current fiscal year 2020-21 while appreciation has been Rs5.05 in 2021.

Currency experts said that the market was under pressure due to dollar demand for import and corporate payments. They said that as the fiscal year is ending in the month of June, the corporate buyers were seen active for dollar buying. Furthermore, the demand was also seen for oil import payment. – TLTP