Daily Times

KARACHI: The greenback closed flat against the rupee in the interbank and increased in open market on improved demand by importers and corporate sector.

The greenback closed at Rs 119.85 for buying and Rs 120.05 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.

Commercial banks are trying to meet their demand, which helps rupee from any bigger fall in value.

The euro closed at Rs 140.86 for buying and Rs 141.06 for selling, and remained up by 26 paisas in value.

The pound sterling closed flat at Rs 160.80 for buying and Rs 161 for selling.

Kerb market: The dollar ended higher in the open currency market.

The US dollar closed at Rs 120 for buying and Rs 120.20 for selling, gaining 40 paisas from previous session’s level. Earlier in the day it was trading at Rs 119.98 for buying and Rs 120.19 for selling.

The pound sterling closed at Rs 159.75 for buying and Rs 159.95 for selling, with Re 1 increase from previous session’s level.

The euro closed at Rs 141 for buying and Rs 141.270 for selling. It closed firm in value by Re 1.

Published in Daily Times, June 14^th 2018.