Rupee ends firmer amid dollar demand for import, corporate payments

Rupee ends firmer amid dollar demand for import, corporate payments

KARACHI: The rupee ended firmer against dollar on Tuesday amid demand of the foreign currency for import and corporate payments.

The rupee ended Rs165.88 to the dollar from previous day’s closing of Rs165.89 in interbank foreign exchange market.

Currency experts said that the demand for the greenback was remained higher form importers. Besides, due to closing of quarter end the corporate buyers were also seen active as foreign companies repatriate their profits to their parent companies.

They said that due to positive sentiments after current account surplus and approval of $300 million by the Asian Development Bank (ADB) to support Pakistan’s capital market also supported the rupee.

The experts hoped the local unit main recover in the coming days as the demand for import and corporate payments was eased.

Leave a Reply

You have to agree to the comment policy.