Rupee ends stable despite higher dollar demand

KARACHI: The Pak Rupee ended stable against dollar on Monday despite higher demand for import and corporate payments.

The rupee ended Rs155.91 to the dollar, the same level of last closing on last Friday’s, in interbank foreign exchange market.

Currency dealers said that earlier in the day the demand for import and corporate payment was high and rupee was under pressure.

However, sufficient supply of the greenback helped the local unit to gain earlier day’s losses.

The foreign currency market was initiated in the range of Rs1556.95 and Rs156.02. The market recorded day high of Rs155.99 and low of Rs155.90 and closed at Rs155.91.

The exchange rate in open market also witnessed stable rupee value. The buying and selling of dollar was recorded at Rs155.70/Rs156.20, the same closing level on last Friday, in cash ready market.

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