Dollar closes flat in value versus rupees

Dollar closes flat in value versus rupees

KARACHI: The greenback closed flat in value against the domestic unit in the interbank market, owing to lull demand from prime importers and oil companies for their payments.

The dollar closed at Rs 104.40 for buying and Rs 104.60 for selling. The dollar traded lowest at Rs 104.38 during mid trading before recovering value.

The differential between dollar rates in kerb and interbank markets increased to 55 paisas.

Banks made payments worth $6 million to $6.5 million against a supply of $7 to $7.5 million. State-run banks and large privatised banks were involved in the payments to the corporate sector.

State Bank of Pakistan also did not make substantial intervention in the market.

The euro gained 36 paisas in the interbank to close at Rs 116.36 for buying and Rs 116.56 for selling.

The pound sterling gained 23 paisas to close at Rs 135.27 and Rs 135.47 for buying and selling respectively.