Daily Times

KARACHI: The US dollar closed strong in value versus rupee in interbank and open market, said treasurers.

However State Bank of Pakistan kept eye to control over outflow of greenback for import payments that kept the rupee from any bigger fall, treasurers said.

The US currency closed at Rs 119.50 for buying and at Rs 119.70 for selling without Rs 1.10 upward change in value against the rupee.

Banks made import payments worth $2.4 million to $3.5 million while an approximately identical volume of forex influx was added. The dollar traded at a day high of Rs 119.66 and a low of Rs 119.49.

Dollar might swing around Rs 119.70 for the near term. In the long term, however, its movement depends all on the inflows, a banker said.

The euro gained 25 paisas in the interbank market to close at Rs 140.12 for buying and Rs 140.32 for selling. The pound sterling closed up by 50 paisas to close at Rs 160 and Rs 160.20 for buying and selling respectively.

Kerb market: The dollar ended higher in the open currency market against the rupee because of its demand, foreign exchange dealers said. The dollar closed at Rs 119.60 for buying and Rs 119.80 for selling. It gained 10 paisas in the open market.

The pound sterling closed at Rs 158.75 for buying and Rs 158.95 for selling, it closed 25 paisas up against the rupee. The euro closed at Rs 140 for buying and Rs 140.20 for selling. It gained 50 paisas in the open market.

Published in Daily Times, June 13^th 2018.