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Pakistani rupee gains 2 paisa against US dollar

Pakistani rupee gains 2 paisa against US dollar

KARACHI: The Pakistani currency further recovered its value against the US dollar in interbank and open markets on Friday. The local currency gained 2 paisa in the interbank and hit Rs155.65 against the greenback.

In the open market, it followed similar trend by gaining 5 paisa and hitting Rs156.75.

On Thursday, the local currency gained another 6 paisa against dollar owing to improved supply of the foreign currency in the market. The rupee ended Rs155.67 to the dollar from previous day’s closing of Rs155.73 in interbank foreign exchange market.

Currency dealers said that the supply of the foreign currency helped the rupee to gain value at Rs155.60 to the dollar during the day. However, the demand from importers restricted the rupee to end at Rs155.67 to the dollar.

The foreign currency market was initiated in the range between Rs155.69 and Rs155.73. The market recorded day high of Rs155.75 and low of Rs155.60 and closed at Rs155.67 in interbank foreign exchange market.

The exchange rate in open market also witnessed appreciation in the rupee value. The buying and selling of the dollar was recorded at Rs155.50/Rs155.80 from previous day’s closing of Rs155.60/Rs155.90 in cash ready market.