Rupee gains 16 paisas on improved dollar inflows

KARACHI: The Pak Rupee gained 16 paisas against dollar on Wednesday owing to inflows of export receipts and workers’ remittances, dealers said.

The rupee ended Rs156.32 to the dollar from previous day’s closing of Rs156.46 in interbank foreign exchange market.

Currency dealers said that the market was opened on the higher demand for dollar. However, improved supply of dollar through export receipts and remittances helped the rupee to gain the value.

The foreign currency market was opened in the range of Rs156.40 and Rs156.44. The market recorded day high of Rs156.45 and low of Rs156.32 and closed at Rs156.32.

The exchange rate in open market also witnessed appreciation in rupee value. The buying and selling of dollar was recorded at Rs156.00/Rs156.50 from previous day’s closing of Rs156.10/Rs156.60 in cash ready market.

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