Rupee appreciates by 32 paisas ahead of Eid holidays

Rupee appreciates by 32 paisas ahead of Eid holidays

KARACHI: The Pak Rupee gained 32 paisas against the dollar on Friday owing to inflows of home remittances and export receipts.

The rupee ended Rs152.28 to the dollar from last day’s closing of Rs152.60 in the interbank foreign exchange market.

Currency experts said that demand for dollar was remained in the market due to extended holidays for Eid ul Fitr announced by the government. The government announced Eid holidays from May 10 to May 15, 2021.

However, they said that inflows of Eid related remittances and export receipts helped the rupee to make gain.

They further said that the latest instructions of the central bank to open bank branches on May 10 and May 11, 2021 to facilitate general public during extended Eid holidays also improved market sentiments.

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