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Rupee gains eight paisas amid import, corporate demand

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KARACHI: The Pak Rupee gained eight paisas against dollar on Friday amid demand for import and corporate payments.

The rupee ended Rs154.41 to the dollar from previous day’s closing of Rs154.49 in interbank foreign exchange market.

Currency dealers said that the market was initiated with higher demand of dollar earlier in the day. However, inflows of export receipts and foreign remittances helped the rupee to appriciate.

The foreign currency market was initiated in the range of Rs154.52 and Rs154.57. The market recorded day high of Rs154.55 and low at Rs154.40 and closed at Rs154.41.

The exchange rate in open market witnessed no change in rupee value. The buying and selling of the dollar was recorded at Rs154.30/Rs154.60, same previous day’s closing level, in cash ready market.