Daily Times

KARACHI: The greenback closed flat against the rupee in the interbank and depressed in open market on dull demand by importers and corporate sector. The greenback closed at Rs 110.30 for buying and Rs 110.50 for selling with no change in interbank transaction. The rupee is likely to remain firm because of the dull demand for dollar by the corporate sector for its payments. Hajj pilgrims’ expenses could put some pressure on rupee in near future. Banks are trying to meet their demand, which helps rupee from any bigger fall in value. The euro closed at Rs 136.01 for buying and Rs 136.21 for selling, shedding 64 paisas. The pound sterling closed at Rs 154.25 for buying and Rs 154.45 for selling. It increased by 10 paisas. Kerb market: The dollar ended slightly lower in the open currency market. The US dollar closed at Rs 111.45 for buying and Rs 111.65 for selling, losing five paisas from previous session’s level. Earlier in the day it was trading at Rs 111.46 for buying and Rs 111.66 for selling. The pound sterling closed at Rs 155 for buying and Rs 155.20 for selling, with 25 paisas decline from previous session’s level. The euro closed at Rs 137 for buying and Rs 137.20 for selling. It shed 50 paisas.

Published in Daily Times, February  22^nd 2018.