Rupee gains 10 paisas against dollar on inflows

KARACHI: The Pak Rupee gained 10 paisas against dollar on Tuesday owing to inflows and lackluster demand for import payment.

The rupee ended Rs154.41 to the dollar from previous day’s closing of Rs154.51 in interbank foreign exchange market.

Currency dealers said that the market witnessed inflows under the heads of workers’ remittances and export receipts. On the other hand due to coronavirus threat the importers are reluctant to purchase dollars for Chinese imports.

The foreign currency market was initiated in the range of Rs154.51 and Rs154.56. The market recorded day high of Rs154.51 and low of Rs154.41 and closed at the same level.

The exchange rate in open market witnessed no change in the local currency. The buying and selling of the dollar was recorded at Rs154.30/Rs154.60, the same previous day’s closing, in cash ready market.

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