Rupee gains three paisas amid demand for import payment

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

The rupee ended Rs155.88 to the dollar as compared with previous day’s closing of Rs155.91 in interbank foreign exchange market.

Currency experts said that the rupee gained 16 paisas against dollar in early trade. However, high demand for import payment deteriorated rupee value. Despite, higher demand the local unit managed to close with three paisa gain.

The foreign currency market was initiated in the range of Rs155.85 and Rs155.92. The market recorded day high of Rs155.87 and low of Rs155.75 and closed at Rs155.88.

The exchange rate in open market witnessed 20 paisa appreciation in rupee value.

The buying and selling of dollar was recorded at Rs155.50/Rs156.00 from previous day’s closing of Rs155.70/Rs156.20 in cash ready market.

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