Rupee records Rs1.25 gain vs dollar at 1.226% in 3 days to Rs101.9 as POL import bills plunge

KARACHI: Pakistani rupee Monday took another leap against US dollar both in interbank and open market and recorded 50 paisa gain as petroleum, oil & lubricants (POL) import bills plunged due to lowering international oil prices to $83.39 per barrel, lowest since December 1998.

As per the local currency market, the greenback shed 50 paisa in interbank to reach 101.9, while it dropped 50 paisa in open market to stand at 102 on the first day of trading week. On Friday, US dollar lost 60 paisa in open market to stand at 102.5 and 50 paisa in interbank to reach 102.4.

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On Thursday, Pakistani rupee further strengthened against US dollar both in open market and interbank. As per the local currency market, US dollar lost 5 paisas in open market to stand at 103.1 and 10 paisas in interbank to reach 102.9. On Wednesday, greenback shed 15 paisas in open market to stand at 103.15 and 10 paisas in interbank to reach 102.9.