Rupee gains 47 paisas in mid-day trade

KARACHI: The Pak Rupee made significant gain of 47 paisas against dollar in mid-day trading on Friday owing to inflows of remittances and export receipts.

The dollar is being traded at Rs156.75 to the dollar in interbank foreign exchange market in early trading.

The exchange rate ended at Rs157.22 to the dollar in interbank foreign exchange market on Thursday.

Currency experts said that the improved inflows of worker remittances and export receipts helped the local currency to make gains against the greenback. They said that encouraging economic figures in the month of July and following in August helped to improve sentiments of businesses.

The exchange rate in open market also witnessed appreciation in rupee value in mid-day trading. The dollar is being traded at Rs157.30 from previous day’s closing of Rs157.50.

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