Rupee gains five paisas against dollar on inflows

KARACHI: The Pak Rupee gained five paisas against dollar on Tuesday as market witnessed mixed trend during the day.

The rupee ended Rs154.23 to the dollar from previous day’s closing of Rs154.28 in interbank foreign exchange market.

Currency dealers said that the market witnessed depreciation of rupee earlier in the day owing to demand from importers and corporate buyers.

However, inflows of export earnings and remittances helped the rupee to gain the value.

The foreign currency market initiated in the range of Rs154.35 and Rs154.38. The market recorded day high of Rs154.35 and low of Rs154.18 and closed at Rs154.23.

The exchange rate in open market also witnessed depreciation in the rupee value. The buying and selling of the dollar was recorded at Rs154.10/Rs154.40 from previous day’s closing of Rs154.00/Rs154.30 in cash ready market.

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