KARACHI, JAN 07 (DNA) – Rupee in open market strengthened while at interbank it shed weight on first session of the new week because of higher demand from oil companies and some big importers.

Dollar in the open market recorded a drop of 10 paisa to trade at Rs139.10 while at interbank it gained 7 paisa to touch Rs138.93.

The main reason behind the surge was the higher demand from the oil companies and some of the importers. Dealers said that usually on first day inflows are slow because of the world markets especially New York was closed so failed to receive any clearance.

However, with inflows expected from the brotherly countries there has been a possibility that rupee might recover. However, with higher debt obligations gains in the foreign currency market has been limited, said a dealer.