Karachi: Rupee on the third day of the trading week managed to post gains against the dollar mainly due to lesser import expenses and an recovering economic outlook.
The buying rate of the US dollar on Wednesday was Rs159.1, while its selling rate was Rs159.9 at the closing of market on Wednesday, February 10.
Meanwhile, according to Forex Association of Pakistan, the buying and selling rates of dollar in the open market were recorded at Rs159.1 and Rs159.9 respectively.
In interbank trading, the price of euro appreciated by 97 paisas and closed at Rs193.26 against the last day’s trading of Rs 192.29, State Bank of Pakistan reported.
According to the Currency dealers the rupee continued to appreciate versus the greenback due a slowdown in the demand of the dollar from importers. “There is a lack of import payment pressure. It seems the government had already bought oil to meet its demand,” a foreign exchange trader thought.
“The market didn’t react to the surge in the international oil prices,” he added.
T1 Phone PR firm is ‘not assisting Trump Mobile any further’
- 5 hours ago
Gold prices plummet in Pakistan, global markets
- 18 hours ago
NA passes federal budget for next fiscal year
- 18 hours ago
In meeting with FM Munir, Iranian President lauds Pakistan’s role in promoting regional peace
- 12 hours ago
Five Eyes spy alliance warns AI can outpace cybersecurity norms 'in months, not years'
- 17 hours ago
How Iran won the war
- 3 hours ago
Why LA’s mayor doesn’t have much power
- 3 hours ago
The Atlantic created a searchable database of the music used to train AI
- 5 hours ago
Iranian President arrives in Islamabad, receives cordial welcome
- 18 hours ago
Haaland's double double sends Norway into World Cup last 32
- 17 hours ago
SanDisk’s new PlayStation 5 SSD will cost you more than three PS5 Pros
- 5 hours ago
The race splitting Zohran Mamdani’s coalition
- 3 hours ago
