Pakistan Rupee

Rupee strengthens by 55 paisas against dollar

Money & Banking

KARACHI: The Pak Rupee gained 55 paisas against the dollar on Monday owing to improved in external front and discoursing demand for import payment after rise in coronavirus cases.

The rupee ended Rs154.04 to the dollar as compared with last Friday’s closing of Rs154.59 in the interbank foreign exchange market.

Currency experts said that the importers were remained cautious over placing new order owing to alarming rise in coronavirus cases and considerations of complete lockdown.

Besides, the experts said that approval of IMF tranche for Pakistan and expected inflows from sale of Eurobonds had also helped the rupee to make gain,

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