Pakistan rupee loses strength against dollar: gold rates 20-Jan-09

KARACHI: The national currency lost heavily against the dollar in the inter-bank market, dealers said on Monday.

The American currency commenced the day’s trading at Rs 79.30 for buying, witnessed a massive gain and closed at Rs 79.60 for buying and Rs 79.65 for selling. Thus, the local currency recorded a loss of 30 paisas.

The national currency was down against the European single currency as the euro opened the day’s trading at Rs 105.17 for buying, gained grounds and was changing hands at Rs 105.77 for buying and Rs 105.97 for selling at the end of the day’s trading. Therefore, the local currency incurred a loss of 50 paisas. However, the pound sterling lost Rs 1.66 against the national currency. The British currency kicked off the day’s trading at Rs 118.37 for buying and after losing strength was changing hands at Rs 116.71 for buying and Rs 116.91 for selling at the end of the day’s trading.

Open Market: The national currency remained weak against the dollar in the open market during the day’s trading, dealers said on Monday.

The American currency opened the week’s trading at Rs 79.20 for buying and after appreciating was changing hands at Rs 79.22 for buying and Rs 79.80 for selling at the end of the day’s trading. Thus, the local currency was down by two paisas.

The European single currency gained strength against the national currency as the euro kicked off the day’s trading at Rs 104.50 for buying and after witnessing a positive trend during the day’s trading closed at Rs 105.50 for buying and Rs 108.50 for selling. Therefore, the national currency recorded a loss of Re 1. Similarly, the British currency remained positive against the national currency. The national currency recorded a loss of Re 1. The pound sterling started the day’s trading at Rs 116.50 for buying and after gaining strength closed at Rs 117.50 for buying and Rs 120.50 for selling. Daily Times