Rupee gains four paisas amid demand for import, corporate payments

Rupee gains four paisas amid demand for import, corporate payments

KARACHI: The Pak Rupee gained four paisas against dollar on Friday amid higher demand of greenback for import and corporate payments.

The rupee ended Rs155.03 to the dollar from previous day’s closing of Rs155.07 in interbank foreign exchange market.

Currency dealers said that the rupee was under pressure during the day due to upcoming weekly holidays. Besides, the financial year ending for many corporate entities also escalated the demand for the greenback.

The dealers said the inflows of export receipts and remittances helped the rupee to appreciate during later in the day.

The exchange rate in open market also witnessed appreciation in rupee value. The buying and selling of dollar was recorded at Rs154.60/Rs155 from previous day’s closing of Rs154.70/Rs155.10 in cash ready market.

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