Rupee makes gain on inflows

Rupee makes gain on inflows

KARACHI: The Pak Rupee gained three paisas against dollar on Friday owing to inflows of export receipts and workers’ remittances.

The rupee ended Rs154.96 to the dollar from previous day’s closing of Rs154.99 in interbank foreign exchange market.

Currency experts said that inflows of exports and remittances helped the rupee to make gain. They said that improvement in foreign exchange reserves also helped the local unit to appreciate against the greenback.

The foreign currency market was initiated in the range of Rs154.94 and Rs154.99. The market witnessed day high of Rs154.99 and low of Rs154.94 and closed at Rs154.96.

The exchange rate in open market however witnessed no change in rupee value. The buying and selling of dollar was recorded at Rs154.40/Rs154.70, the same previous day’ closing, in cash ready market.