Daily Times

KARACHI: The greenback closed flat in value versus rupee on insignificant demand from corporate sector in interbank while gained value in open market.

The commercial banks kept maintaining local currency in firm zone besides they controlled inflow and outflow of greenback.

The dollar closed at Rs 115.50 for buying and Rs 115.70 for selling with no change against the rupee. The dollar traded at a low of Rs 115.49. The dollar rate differential between kerb and interbank markets remained Rs 1.80 on day’s average.

Demand from the importers and corporate sector was normal that kept dollar away from major surge while meager payment from national exchequer stopped dollar to further rise. Commercial banks helped the rupee to stand steady versus dollar.

The euro remained flat in the interbank market to close at Rs 136.34 for buying and Rs 136.54 for selling. The pound sterling remained even and closed at Rs 155.93 and Rs 156.13 for buying and selling respectively.

Kerb Market: The dollar remained firm in value in the open market following flat demand from corporate and private sector in interbank.

The dollar closed at Rs 117.40 for buying and Rs 117.60 for selling in the open market against rupee. It rose by 15 paisas.

The pound sterling closed at Rs 158.35 for buying and Rs 158.55 for selling after remaining 35 paisas high against rupee, while euro remained firm by 25 paisas and closed at Rs 138.25 for buying and closed at Rs 138.45 for selling.

Published in Daily Times, May 22^nd 2018.