Rupee gains 34 paisas on improved investors’ sentiments

KARACHI: The Pak Rupee gained 34 paisas against dollar on Thursday owing to improved confidence of investors on the country’s capital market and narrowed current account deficit.

The rupee ended Rs158.24 to the dollar from previous day’s closing of Rs158.58 in interbank foreign exchange market.

Currency experts said that the improved sentiments of investors in the stock market also impacted the currency market.

Besides, the narrowed current account deficit in July 2019 also helped the rupee to improve levels.

The foreign currency market was opened in the range of Rs 158.40 and Rs158.50. The market recorded day high of Rs158.40 and low of Rs158.15 and closed at Rs158.24.

The exchange rate in open market also witnessed appreciation of the local unit. The buying and selling of dollar was recorded at Rs158.20/Rs158.70 from previous day’s close of Rs158.50/Rs159.00 in cash ready market.

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