Summary The rupee lost its value and dollar again gained Rs 1.41 on Monday.
KARACHI (Dunya News) - Dollar closed with a gain of Rs 1.41 on first day of the new week where rupee was still under pressure owing to weakness in economy and higher demand of green backs.
The journey of the dollar started with a bang and it hit the session high of Rs 110 but some selling from exporters and intervention from the central bank kept the flight of the domestic currency checked. But still the rupee lost its value and dollar again gained Rs 1.41.
Dollar in last two sessions registered an increase of Rs 2.91 to Rs 108.41, almost four-year high level. Last dollar was seen around Rs 108.40 on December 6, 2013.
Similarly in the open market, dollar slipped by 60 paisa to Rs 109.30 and since Friday, domestic currency lost nearly Rs 1.60.
Analysts believed that the rally might continue for another day or two. However, if State Bank of Pakistan supplies dollar immediately following the opening of the market, there has been possibility that rupee slide might be halted for a while.
(Story by Haris Zamir)
