Rupee ends flat amid higher import demand

KARACHI: The Pak Rupee ended flat against dollar on Friday amid higher demand for import and corporate payments, dealers said.

The rupee ended Rs156.19 to the dollar from previous day’s closing of Rs156.18 in interbank foreign exchange market.

Currency experts said that due to weekly holidays ahead the demand for the greenback was higher for import and corporate payments. However, sufficient supply of export receipts and workers’ remittances helped the rupee from devaluation.

The foreign currency market initiated in the range of Rs156.05 and Rs156.15. The market recorded day high of Rs156.20 and low of Rs156.07 and closed at Rs156.19.

The exchange rate in open market however witnessed appreciation in local currency value. The buying and selling of the dollar was recorded at Rs155.90/Rs156.40 from previous day’s closing of Rs156.00/Rs156.50 in cash ready market.

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