KARACHI: The US dollar on Wednesday sustained to shed value beside rupee after the banks and exchange markets opened after a long weekend, NEWS reported.
Rendering to forex dealers, the greenback shed Rs2.55 in the interbank and traded at Rs221.49 although the banks are selling the US dollar at Rs222.50.
In open market, the dollar weakened by Rs2 and traded amongst Rs218 and Rs220.
On Friday, the US dollar sustained its downward slide on the fifth consecutive day in contradiction of the rupee with the Interbank closing #ExchangeRate for todayhttps://t.co/vcFYreg8oI pic.twitter.com/0Z0D5belQY
In the interbank today, the US dollar shed Rs2.11 to trade at Rs224.04 while banks, according to forex dealers, are trade the greenback at Rs225.50.
In the open market, the dollar traded between Rs220 and Rs222.
The Pakistani rupee gained as much as 8.5% in the first few days of August, increasing the most in over five years, after it jumped to a record low towards the end of July.
Read Also: US Dollar nonstop Down slide beside Rupee
The US dollar lost more than six percent of its value in contradiction of the rupee during the last five trading sessions, with the Pakistani rupee making enormous single-day gains alongside the US dollar on Wednesday when it valued by more than nine Pakistani rupees in the interbank market.
Previously, the currency had collapsed by more than 13 percent in the prior 10 consecutive working days, with an all-time low closing at 239.94 Pakistani rupees on July 28, rendering to the SBP statistics.