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Pak Rupee gains five paisas against US dollar

Pak Rupee gains five paisas against US dollar

KARACHI: The Pak Rupee gained five paisas against dollar on Wednesday owing to inflows of export receipts and workers’ remittances, dealers said.

The rupee ended Rs154.37 to the dollar from previous day’s close of Rs154.42 in interbank foreign exchange market.

The currency dealers said that the market witnessed inflows of exports and workers’ remittances during the day. On the other hand the importers were reluctant for fresh buying due to Coronavirus threat.

The foreign currency market was initiated in the range of Rs154.35 and Rs154.40. The market recorded day high of Rs154.39 and low of Rs154.34 and closed at Rs154.37.

The exchange rate in open market also witnessed appreciation in rupee value. The buying and selling of the dollar was recorded at Rs154.20/Rs154.50 as compared with last day’s closing of Rs154.30/Rs154.60 in cash ready market.