Rupee gains three paisas amid higher import payment demand

KARACHI: The Pak Rupee gained three paisas against dollar on Monday despite higher demand for import and corporate payments.

The rupee ended Rs155.44 to the dollar from last Friday’s closing of Rs155.47 in interbank foreign exchange market.

Currency dealers said the market witnessed higher dollar demand earlier in the day because the market opened after two weekly holidays. They said that later in the day inflows from remittances and export receipts supported the local unit.

The foreign currency market was opened in the range between Rs155.43 and Rs155.45. The market recorded day high of Rs155.60 and low of Rs155.34 and closed at Rs155.44.

The exchange rate in open market however witnessed stable rupee value.

The buying and selling of dollar was recorded at Rs155.20/Rs155.50, the same closing level on last Friday, in cash ready market.

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