Business News

Pakistan Rupee

Rupee gains three paisas in interbank forex market

KARACHI: The Pak Rupee gained three paisas against the dollar on Monday owing to improved inflows of workers’ remittances and export payments, dealers said.

The rupee ended Rs159.07 to the dollar from last Friday’s closing of Rs159.10  in the interbank foreign exchange market.

Currency dealers said that the market witnessed higher demand of the foreign currency due to market was opened after two weekly holidays.

However, inflows of workers’ remittances and export payments helped the rupee to make gains.

They said that due to fall in coronavirus cases the market was remained optimistic and dollar demand for import payment was gradually rising.

They, however, optimistic that the inflows of export receipts and workers’ remittances would help the local unit to gain values in coming days.