Greenback ends lower in value versus domestic unit

Author: Staff Report

KARACHI: The greenback remained dull in value against the rupee in the interbank and open market on back of insignificant demand from corporate and private sector.

The dollar closed down by 4.20 to close at Rs 115.50 for buying and Rs 115.70 for selling. It traded at a day high of Rs 115.51 and a low of Rs 115.69.

Decision of State Bank to make oil payments remained the major factor for rupee’s steadfastness.

SBP has also tightened some rules regarding foreign exchange management to check outflows and stabilise the domestic currency.

The euro depressed by Rs 5 to close at Rs 135.30 for buying and Rs 135.50 for selling. The pound sterling remained dull by Rs 5 to close at Rs 154.36 and Rs 154.56 for buying and selling respectively.

Kerb Market: The dollar lost strength. Greenback closed at Rs 118.55 for buying and Rs 118.75 for selling. It shed Rs 1.50 in the open market.

The pound sterling closed at Rs 157.60 for buying and Rs 157.80 for selling, closed dull by Rs 5.41 against the rupee. The euro closed at Rs 139.10 for buying and Rs 139.30 for selling. It lost 2.60 in the open market.

Published in Daily Times, June 20th 2018.

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