Karachi (HRNW) The Pakistani rupee on Wednesday put up a good fight against the US dollar in the interbank and open markets, initially gaining ground against the greenback in the morning trading session and adjusting a little later to closer higher than the previous day.
The US dollar had closed at Rs202.83 in the interbank on Tuesday at a historical high, but when the trading began on Wednesday morning, the rupee gained as much as Rs3 to Rs199.75.
However, the rupee soon lost steam and by noon it was trading at Rs201.25 against the US dollar, which seemed to have bounced back.
The US dollar eventually closed at Rs20.52, losing Rs1.3 in intraday trading.
A similar volatile situation was seen in the open market, where the US dollar lost Rs2 to 202.5.
The rupee has been on a losing streak for the past three trading sessions when it lost around Rs5 against the US dollar.
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