Rupee makes gain on last day of year 2019

Rupee makes gain on last day of year 2019

KARACHI: The Pak Rupee gained seven paisas against dollar on Tuesday to close the year 2019. The local currency appreciated despite demand for import and corporate payments, dealers said.

The rupee ended Rs154.85 to the dollar from previous day’s closing of Rs154.92 in interbank foreign exchange market.

Currency dealers said that the rupee witnessed pressure during the day due to demand for import and corporate payments.

However, inflows and positive economic indicators helped the rupee to close the year with gain.

The foreign currency market was initiated in the range of Rs154.90/Rs154.95. The market recorded day high of Rs154.92 and low of Rs154.85 and closed at Rs154.85.

The exchange rate in open market witnessed no change in the local currency. The buying and selling of the dollar was recorded at Rs154.70/Rs155.00, the same previous day’s level, in cash ready market.