Rupee gains 34 paisas on improved foreign inflows

KARACHI: The Pak Rupee gained 34 paisas against dollar on Monday as inflows of home remittances and export receipts helped the local unit to appreciate.

The rupee ended Rs158.62 to the dollar from last Friday’s closing of Rs158.96 in interbank foreign exchange market.

Currency experts said that the inflows of home remittances related to Eid ul Azha and improved export receipts helped the local unit to improve the value.

The foreign currency market was initiated in the range of Rs158.80 and Rs158.90. The market recorded day high of Rs158.80 and low of Rs158.60 and closed at Rs158.62.

The exchange rate in open market was also witnessed appreciation in local currency. The buying and selling of dollar was recorded at Rs158.50/Rs159.00 from last Friday’s closing of Rs159.00/Rs159.50 in cash ready market.

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