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Dollar slightly up against rupee

The surge in dollar by 40 paisa was witnessed in the inter-bank. The greenback has now reached Rs 102.58.

Analysts said the rupee has lost more than four percent against the dollar in the past two weeks as an ongoing political crisis took its toll on the economy.

The slide began when Pakistan Tehreek-e-Insaf chief Imran Khan announce to march on the capital to stage sit-ins aimed at toppling the government, which he accuses of rigging last year’s elections. The currency fell from 98.85 to the dollar on Aug. 8 to Rs. 103 to the dollar in the official interbank market on Monday—a decline of 4.2 percent.

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