Rupee gains strength against Dollar by 61 paisas

The Pakistani rupee increased by 61 paisa against the US dollar in the interbank market on Tuesday.

According to foreign currency dealers, the local unit appreciated by 0.61 paisa to and currently traded at 159.30 against the greenback in the inter-bank market. On Monday, The United States (US) dollar has registered decline against Pakistani rupees in the interbank as well as the open market.

Last week, the Pakistani rupee registered Rs3.57 appreciation in its value against the US dollar in the interbank market. the value of rupee inclined by Rs 0.42 against US dollar in the interbank market at the start of day’s trading. In the interbank market the US traded at around 158.75 PKR.

Earlier in April, Pakistani currency increased by Rs 2.5 to rate of Rs 158.5 against the US dollar in the inter-bank market on Wednesday today. The price of the US dollar decreases due to the massive decrease in oil prices in the global market. The buying rate of US dollars in Pakistani rupees is Rs 158.5 whereas the selling rate is 161.