Rupee gains 10 paisas on inflows of export receipts

Rupee gains 10 paisas on inflows of export receipts

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

The rupee ended at Rs155.19 to the dollar from previous day’s closing of Rs155.29 in interbank foreign exchange market.

Currency dealers said that the inflows in shape of export receipts and workers’ remittances helped the rupee to appreciate against dollar.

They said that the sentiments were positive in the market owing to improved rating of Pakistan’s economy by Moody’s. Besides, the numbers also showed reduction in trade deficit for the first five months.

The foreign exchange market was opened in the range of Rs155.25 and Rs155.30. The market recorded day high of Rs155.25 and low of Rs155.18 and closed at Rs155.19.

The exchange rate in open market also witnessed appreciation in rupee value. The buying and selling of dollar was recorded at Rs155.20/Rs155.40 from previous day’s closing of Rs155.40/Rs155.70 in cash ready market.

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