Rupee continues to appreciate against dollar
In the open market the dollar was being sold at Rs 100.75 and bought at Rs 100.20.
KARACHI (Web Desk) – The rupee continued to appreciate on Monday as it dropped even below Rs 98 in an unprecedented decline.
About 0.32 paisas decrease was noted in dollar’s interbank rate and the exchange rate fell to below Rs 98.
The greenback was being bought at Rs 97.70 and sold at Rs 97.90 in the interbank market.
However, in the open market the dollar was being sold at Rs 100.75 and bought at Rs 100.20, registering a slight decrease in its value from the previous day.
Last week the dollar dropped to Rs 98.10 in the interbank market and currency dealers had predicted further devaluing of the greenback this week.
The rupee has appreciated by 7pc in the Jan-March 2014 period, becoming one of the best performing currencies in the world so far in this calendar year.
