US dollar sold at Rs159.4

KARACHI: The buying rate of the US dollar on the first day to trading-week closed at Rs158.8 whereas its selling rate settled at Rs159.4 on Monday.

Due to a number of economic factors, the Pakistani rupee is projected to strengthen slightly against the greenback in coming days.

The factors which are expected to strengthen the rupee consist of increased inflows from remittances under the Roshan Digital Account (RDA) and funds coming into the bonds and low dollar demand from traders.

Meanwhile, a single tola of 24-karat gold in Pakistan was sold for Rs111,050 at the closing of the bullion market. Likewise, 10 grams of 24k gold was sold for Rs95,207 at the closing of trading. While, 10 grams of 22k gold was traded for Rs87,274.

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