KARACHI: The Pak Rupee made four paisas against dollar on Thursday owing to lackluster demand for import and corporate payments, dealers said.

The rupee ended Rs154.90 to the dollar from previous day’s closing of Rs154.95 in interbank foreign exchange market.

The dealers said that the foreign currency demand for import and corporate payments was remained lackluster.

The foreign currency market was initiated in the range of Rs154.91 and Rs154.95. The marked witnessed day high of Rs154.91 and low of Rs154.90 and closed at Rs154.90.

The exchange rate in open market was remained unchanged. The buying and selling of dollar was recorded at Rs154.40/Rs154.70, the same previous day’s closing, in cash ready market.

Market participants said the rupee remained broadly stable as demand for foreign currency stayed subdued in the interbank market. The limited requirement for import and corporate payments provided some support to the local currency during the session.

Dealers said the market would continue to monitor foreign exchange demand, global currency movements and developments in Pakistan’s external account. The stability in the open market also reflected relatively balanced demand and supply conditions. Meanwhile, exporters, importers and other market participants remained cautious about future exchange rate movements.

The rupee’s performance in the coming sessions is expected to depend on changes in foreign currency inflows, import requirements, remittances and overall market sentiment. Dealers will also closely watch central bank policies and developments affecting Pakistan’s foreign exchange reserves and external financing position.