Rupee gains four paisas against dollar

Rupee gains four paisas against dollar

KARACHI: The Pak Rupee made a gain of four paisas against the dollar on Friday despite demand for import and corporate payments on last trading of the week.

The rupee ended at Rs157.12 to the dollar from previous day’s closing of Rs157.16 in the interbank foreign exchange market.

Currency experts said that demand for the foreign currency was remained high due to upcoming two weekly holidays. However, inflows of workers’ remittances and export receipts helped the rupee to make gain.

The export receipts have increased by 4.3 percent to $16.3 billion during first eight months (July – February) 2020/2021 as compared with $15.6 billion in the corresponding period of the last fiscal year, according to data released by Pakistan Bureau of Statistics (PBS) on Friday.