Eid related inflow helps rupee to gain

KARACHI: The Pak Rupee gained 30 paisas against dollar on Friday as overseas Pakistanis were sending remittances to their relatives for Eid related expenses.

The rupee closed at Rs159.12 to the dollar from previous day’s closing of Rs159.42 in interbank foreign exchange market.

The local currency recovered around Rs1.47 against the dollar during past five consecutive days.

The foreign currency market was initiated in the range of Rs159.45 and Rs159.55. The market recorded day high of Rs159.55 and low of Rs159.08 and closed at Rs159.12.

The exchange rate in open market also witnessed gain of 20 paisas in the rupee value. The buying and selling of dollar was recorded at Rs158.40/Rs159.40 from previous day’s closing of Rs158.60/Rs159.60 in cash ready market.

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