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.
Govt decides to expand Roshan Digital Account scheme
- a day ago
Adequate petroleum stocks available in country: PM Shehbaz
- a day ago
PM directs to improve supply chain of petroleum imports
- 2 hours ago
Peacock is adding an AI Andy Cohen to narrate an endless stream of Bravo clips
- 5 hours ago
Trump administration is allegedly collecting $10 billion on the TikTok deal
- 5 hours ago
A Scavengers Reign artist explores contemplative sci-fi in new comics
- 5 hours ago
AI companies want to harvest improv actors’ skills to train AI on human emotion
- 5 hours ago
AI Czar David Sacks wants Trump to ‘get out’ of Iran
- 5 hours ago
PM Shehbaz gives approval to restructuring of PARC
- 2 hours ago
Tickets for 11th edition of PSL to go on sale from tomorrow
- a day ago
Facebook Marketplace adds AI auto-replies for annoying ‘Is this still available?’ messages
- 14 hours ago
States’ anti-monopoly case against Live Nation continues Monday
- 5 hours ago
