Rupee appreciates by three paisas despite higher dollar demand

KARACHI: The Pak Rupee appreciated by three paisas against dollar on Friday despite higher demand for import payments during upcoming holidays.

The rupee ended at Rs156.35 to the dollar from previous day’s closing of Rs156.38 in interbank foreign exchange market.

The foreign currency market was initiated in the range of Rs156.80 and Rs156.90. The market recorded day high of Rs156.80 and low of Rs156.30 and closed at Rs156.35.

Currency experts said that the higher demand was seen earlier in the day due to upcoming weekly holidays and further two holidays on account of Ashura Muharram on Monday September 09 and Tuesday September 10.

The exchange rate witnessed stable rupee value in open market.

The buying and selling of dollar was recorded at Rs156.00/Rs156.50, the same previous day’s level, in cash ready market.

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