Dollar gets weaker, loses 41 paisas in value against rupee
May 5, 2020 12:01 PM
The rupee made further gains against the US dollar during early trading on Tuesday as the greenback was available for Rs159.50 after losing 41 paisas in its value in inter-bank trading.
It is a continuation of the trend witnessed on Monday when the rupee gained 26 paisas against the dollar which ended the day at Rs159.91.
Monday had experienced a volatile start as the dollar at one point was available for Rs157.50 against the previous level of Rs160.17. But this Rs2.67 gain could not be sustained as the rupee settled for 26 paisas at the end.
Earlier on Thursday too, the rupee had made substantial gains against the dollar with the greenback losing Rs1.44 against the Pakistani currency in inter-bank rate.
On Monday, the pound sterling also weakened a bit as it lost 71 paisas and was available for Rs199.02. However, the euro reached the level of Rs174.92 after gaining 74 paisas.
As far as the open market is concerned, the dollar ended the day at Rs160.50 after losing 50 paisas. Same was the case with the pound sterling and euro which closed at Rs199 and Rs173 respectively. It means that the pound lost Rs3 and euro Rs1 against the rupee.