Dollar loses Rs 4 in open market exchange

KARACHI (92 News) – The rupee has gained against US dollar following the July 25 elections. On Saturday, the Greenback lost Rs 4 in the open market trading. The price of 10 grams of gold declined by Rs 2,850. The currency exchange market seems to have favoured the results of the July 25 general elections. The Exchange Currency Association general secretary Zafar Paracha said the value of US dollar had come down from Rs 128 on Friday to Rs 124 on Saturday. Forex Association president Malik Bostan said several exchange companies had stopped purchasing US dollar having exhausted their rupee reserves. Meanwhile, the gold prices were also down on Saturday. The price of 10 grams of gold dipped by Rs 2,850.