Rupee gains eight paisas on better economic projections

Rupee gains eight paisas on better economic projections

KARACHI: The Pak Rupee gained eight paisas against dollar on Tuesday owing to better economic projections of the central bank.

The rupee ended Rs155.78 to the dollar from previous day’s closing of Rs155.85 in interbank foreign exchange market.

Currency experts said that the rupee gained on the back of projection made by the State Bank of Pakistan (SBP) a day earlier about improved economic conditions were visible due to reforms taken.

The foreign currency market was initiated in the range of Rs155.80 and Rs155.85. The market recorded day high of Rs155.84 and low of Rs155.77 and closed at Rs155.78.

The exchange rate in open market also witnessed appreciation in local currency value. The buying and selling of dollar was recorded at Rs155.70/Rs156.00 as compared with previous day’s closing of Rs155.80/Rs156.10 in cash ready market.

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