KARACHI: The Pak Rupee gained eight paisas against dollar on Wednesday owing to improve inflows of export receipts, dealers said.
The rupee ended Rs154.53 to the dollar from previous day’s closing of Rs154.61 in interbank foreign exchange market.
The currency dealers said that the sufficient supply of dollars in market was seen during the day.
They said that the market was also responded to improved economic conditions.
The foreign currency market was initiated in the range of Rs154.57 and Rs154.60. The market recorded day high of Rs154.57 and low of Rs154.53 and closed at Rs154.53.
The exchange rate in open market witnessed no change in rupee value. The buying and selling of dollar was recorded at Rs154.60/Rs154.90, the same previous day’s level, in cash ready market.
Market participants noted that steady remittance inflows and improved export performance continued to support the local currency sentiment. Analysts believe that a stable current account outlook and controlled import demand have eased pressure on the rupee in recent sessions.
However, they cautioned that external risks, including global oil price movements and geopolitical developments, could influence currency trends going forward. Dealers advised businesses to remain vigilant and manage their foreign exchange exposure prudently, as short-term volatility may persist despite the current stability observed in the interbank and open markets.
