Rupee ends unchanged against dollar

KARACHI: The Pak Rupee ended unchanged against dollar on Thursday despite inflows of remittances and export receipts.

The rupee ended Rs158.25 to the dollar, the same previous day’s closing, in interbank foreign exchange market.

The rupee earlier in the day gained 40 paisas to the dollar to make day’s low of Rs157.85. However, the local unit failed to sustain the level against the greenback.

Currency experts said that demand for import payments offset the inflows. They said that long holidays including weekly holidays and then Eid holidays from August 12 to 15, 2019 encouraged the advance payment for future imports.

The exchange rate in open market, however, witnessed gain in rupee value. The buying and selling of dollar was recorded at Rs157.40/Rs158.40 from previous day’s closing of Rs157.50/Rs158.50 in cash ready market.

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