Rupee gains one paisa amid higher dollar demand

KARACHI: The rupee gained one paisa against dollar on Friday amid higher demand for import and corporate payments.

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

Currency dealers said that due to next weekly holidays the demand of dollar was higher for import and corporate payments. Higher demand depreciated the rupee value in earlier day trade. However, inflows of export receipts and remittances helped the local currency to recover value later in the day.

The foreign currency market was initiated in the range of Rs156.18 and Rs156.23. The market recorded day high of Rs156.26 and low of Rs156.18 and closed at Rs156.18.

The exchange rate in open market witnessed stable value of the local currency. The buying and selling of dollar was recorded at Rs155.80/Rs156.30, the same previous day’s level in cash ready market.

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