KARACHI – Pakistani Rupee in open market strengthened against US dollar

In interbank Pakistani Rupee shed weight on first session of the new weekbecause of higher demand from oil companies and some big importers.

Dollar in the open market recorded a drop of 10 paisa to trade at Rs 139.10while at interbank it gained by 7 paisa to Rs 138.93.

The main reason behind the surge was the higher demand from the oilcompanies and some of the importers. Dealers said that usually on first dayinflows are slow because of the world markets especially New York wasclosed so failed to receive any clearance.

However, with inflows expected from the brotherly countries there has beena possibility that rupee might recover. However, with higher debtobligations gains in the foreign currency market has been limited, said adealer.