Rupee gains two paisas in interbank market

KARACHI: The Pak Rupee gained two paisas against dollar in interbank foreign exchange market on Tuesday as inflows are providing support to the local currency.

The rupee ended Rs158.60 to the dollar from previous day’s closing of Rs158.62 in interbank foreign exchange market.

Currency experts said that inflows of home remittances and export receipts were providing support to the local currency. Besides, the measures taken in the budget also discourage imports of luxury and non-essential items.

The foreign currency market was initiated in the range of Rs158.70 and Rs158.80. The market recorded day high of Rs158.75 and low of Rs158.58 and closed at Rs158.60.

The exchange rate in open market was remained unchanged. The buying and selling of dollar was recorded at Rs158.50/Rs159.00, the same previous day’s level, in cash ready market.

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