Rupee eases against dollar in narrow band trading

Rupee eases against dollar in narrow band trading

KARACHI: The Pak Rupee eased against dollar on Thursday in narrow band trading and lackluster demand from importers.

The rupee ended Rs154.99 to the dollar from previous day’s closing of Rs154.98 in interbank bank foreign exchange market.

Currency experts said that the importers were cautious in buying the greenback on the hopes that the value of the local unit would increase in coming days.

The foreign currency market was initiated in the range of Rs155.00 and Rs155.03. The market recorded day high of Rs155.01 and low of Rs154.98 and closed at Rs154.99.

The exchange rate in open market was remained unchanged. The buying and selling of dollar was recorded at Rs154.40/Rs154.70, the same previous day’s level, in cash ready market.