Rupee ends firmer amid dollar demand

KARACHI: The Pak Rupee ended firmer against dollar on Monday despite demand of the foreign currency for import and corporate payments.

The rupee ended Rs154.57 to the dollar, the same closing level of last Friday, in interbank foreign exchange market.

Currency dealers said that the market witnessed higher demand for the greenback for import and corporate payments on the first day trading after two weekly holidays.

They, however, said that the inflows of export receipts and workers’ remittances helped the rupee to maintain level.

The foreign currency market was initiated in the range of Rs154.58/Rs154.63. The market recorded day high of Rs154.58 and low of Rs154.54 and closed at Rs154.57.

The exchange rate in open market also witnessed no change in rupee value. The buying and selling of dollar was recorded at Rs154.60/Rs154.90, the same closing level of last Friday, in cash ready market.

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