Daily Times

KARACHI: The greenback ended flat in value against the rupee in the interbank market on back of dull demand from corporate sector.

The dollar closed unchanged at Rs 110.30 for buying and Rs 110.50 for selling. Greenback traded at a day high of Rs 110.31 and a low of Rs 110.49.

Paltry import bills payment remained the major supportive factor for local currency’s steadiness. Central bank rules regarding foreign exchange management to check outflows and to stabilise the domestic currency remains supporting.

Local currency might maintain firmness in the short-term but in long-term domestic currency could come under some pressure unless oil prices further fall and influx of foreign exchange to rise.

The euro gained 50 paisa to close at Rs 135.53 for buying and Rs 135.73 for selling. The pound sterling closed flat at Rs 152.09 and Rs 152.29 for buying and selling respectively.

Kerb Market: The dollar remained firm following the flat trend in the interbank market. It closed at Rs 111.90 for buying and Rs 112.10 for selling versus local unit. It gained 10 paisas.

The demand for dollar in the open currency market from the corporate and general buyers remained slightly higher than normal level, thus rupee value came under pressure.

The euro closed at Rs 136.60 for buying and Rs 136.80 for selling, it remained up by 30 paisas against the rupee. The pound sterling closed at Rs 154 for buying and Rs 154.20 for selling. It remained flat in value versus rupee in the open market.

Published in Daily Times, March 6^th 2018.