Rupee gains one paisa amid dollar demand for import payment

KARACHI: The Pak Rupee gained one paisa against dollar on Tuesday amid demand for import and corporate payments.

The rupee ended Rs156.16 to the dollar from previous day’s closing of Rs156.17 in interbank foreign exchange market.

Currency dealers said that the supply of remittances and export receipts helped the rupee to gain earlier in the day. However, the local unit lost the gains due demand from import and corporate payments.

The foreign currency market was opened in the range of Rs156.12 and Rs156.17. The market recorded day high of Rs156.20 and low of Rs156.10 and closed at Rs156.16.

The exchange rate in open market however witnessed appreciation in local currency. The buying and selling of dollar was recorded at Rs155.70/Rs156.20 from previous day’s closing of Rs155.80/Rs156.30 in cash ready market.

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