Dollar softens by two paisas to PKR

Dollar softens by two paisas to PKR

KARACHI: The US dollar fell by two paisas against the Pak Rupee (PKR) on Thursday amid high demand for import payments.

The rupee ended at Rs174.87 to the dollar from previous day’s closing of Rs174.89 in the interbank foreign exchange market.

READ MORE: Dollar rises 39 paisas to PKR

Currency experts said that the rupee made gain during the day owing to positive sentiments prevailed in the currency market. They said that the ease in international oil prices and inflows received during the last week helped the rupee to made gain.

READ MORE: Dollar ends up three paisas to PKR

The international oil prices witnessed a decline during past few days. Further, the country received inflows from IMF as sixth tranche under Extended Fund Facility (EFF) besides receiving funds under Sukuk proceeds.

READ MORE: Rupee ends flat to dollar amid import payment demand

The experts said that any uptick in international oil prices would adversely affect the rupee value in coming days.

The oil import bill surged by 113.40 per cent to $10.18 billion during first half (July –December) 2021/2022 as compared with $4.77 billion in the same period of the last fiscal year.

READ MORE: Dollar plunges by PKR 1.04 in interbank

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