Dollar advances to Rs161.05

KARACHI: The US dollar gained 32 paisas against Pak Rupee on Monday owing to higher demand for import and corporate payments.

The exchange rate was settled at Rs161.05 to the dollar from last Friday’s closing of Rs160.73 in the interbank foreign exchange market.

Currency dealers said that due to weekly holidays the market opened with higher demand for the dollar during the day.

They said that the market remained optimistic after the government decision for not imposing strict lockdown considering the second phase of coronavirus spread.

They said that the market had witnessed inflows of export receipts and workers remittances. However, demand for the greenback for import and corporate payments remained higher.

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