Rupee ends flat to dollar amid import payment demand

Rupee ends flat to dollar amid import payment demand

KARACHI: The Pak Rupee (PKR) ended flat against the dollar on Monday amid demand of the foreign currency for import payment.

The rupee ended Rs176.47 to the dollar from the last Friday’s closing rs176.48 in the interbank foreign exchange market.

READ MORE: Dollar plunges by PKR 1.04 in interbank

Currency experts said that the dollar demand seen during the day but rupee was stable owing to positive sentiments.

The market was positive due to foreign inflows received during the last week in the shape of IMF funds and Sukuk proceeds.

READ MORE: PKR up 89 paisas to dollar as IMF okays Pak tranche

The IMF Executive Board on February 02, 2022 approved over a billion dollars for Pakistan as sixth tranche of Extended Fund Facility (EFF), which was received by the State Bank of Pakistan (SBP).

Further, the Sukuk proceeds also helped the rupee to make gain during the last week.

READ MORE: Rupee gains two paisas against dollar

The experts said that easing import bill also supported the rupee to make recovery.

However, they said that the rising international oil prices would incur pressure on the rupee stability in coming days.

READ MORE: Dollar falls by 29 paisas against PKR

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