Rupee makes gain for fourth straight day

Rupee makes gain for fourth straight day

KARACHI: The Pak Rupee made gains against the dollar for the fourth straight trading day on Friday owing to improved export receipts and workers’ remittances, dealers said.

The rupee gained 18 paisas to close at Rs160.10 against the dollar from the previous day’s closing of Rs160.28 in the interbank foreign exchange market.

The rupee made gain against the foreign currency for the fourth consecutive trading day as the exchange rate was at Rs160.79 to the dollar on Monday January 25, 2021 and ended the week at Rs160.10 on January 29, 2021, showing a gain of 69 paisas against the dollar.

The dealers said that the sentiments remained positive in the market owing to resumption of talks between the government and the IMF.

Further, the dealers hoped sufficient supply of the dollar into the market owing to improved export receipts and workers’ remittances in coming months.