Rupee extends gains against dollar

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Rupee extends gains against dollar
After falling against the dollar for three consecutive sessions, the PKR reversed the trend on Monday.

The local currency was being traded at Rs220.75 per dollar at 12pm, up Rs1.72 or 0.77 per cent, from Friday’s close of Rs222.47, according to the Forex Association of Pakistan.

During the previous week, the rupee fell 0.73% against the US dollar but it was its reported shortage in the open market and the long-march announcement by Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan that caused a bit of a stir among official circles.

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