Daily Times

KARACHI: The dollar remained flat in value versus domestic unit in the interbank market on insignificant demand, treasurers said.

The dollar closed flat at Rs 115.50 for buying and Rs 115.70 for selling.

The gap of the dollar rates between the interbank and kerb markets remained Rs 1.63 on day’s trading average.

Banks made payments of $2.7 million to $3 million, while inflow remained between $4.6 million to $5 million, bankers said. State Bank of Pakistan did not make any intervention in the forex market, as there was not a great demand.

The central bank continues to provide dollars to commercial banks for their customers’ import payments for preventing the rupee from falling against the greenback.

The euro lost 37 paisas in the interbank to close at Rs 142.61 for buying and Rs 142.81 for selling. And the pound sterling remained depressed in value by Re 1 to close at Rs 162.98 and Rs 163.18 for buying and selling respectively.

Kerb Market: The dollar closed flat in the open currency market on less-than-normal demand from private sector buyers.

The greenback closed at Rs 117.25 for buying and Rs 117.45 for selling in the open market.

The volume of transactions was comparatively low. There was less than normal demand while the supply was sufficient thus making it easy for the domestic currency to avoid any fall.

The pound sterling closed at Rs 165 for buying and Rs 165.20 for selling, it remained down by 50 paisas against the rupee while the euro closed at Rs 144.50 for buying and Rs 144.70 for selling, after no change in value.

Published in Daily Times, April 21^st 2018.