Rupee gains 10 paisas against dollar

Rupee gains 10 paisas against dollar

KARACHI: The Pak Rupee gained 10 paisas against dollar on Tuesday owing to inflows of workers’ remittances and export receipts.

The rupee ended Rs162.28 to the dollar from previous day’s closing of Rs162.38 in interbank foreign exchange market.

Currency experts said that the market witnessed sufficient supply of the foreign currency which helped the local unit to gain the value.

They said that positive sentiments were prevailed in the market. They hoped that improved economic indicators would help the rupee to gain further.

Workers’ remittances remained above $2 billion for the fourth consecutive month in September.

They increased to $2.3 billion, 31.2 percent higher than the same month last year and 9 percent higher than in August, the State Bank of Pakistan (SBP) recently said.

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