Greenback edges higher in value versus domestic unit

Author: Staff Report

KARACHI: The US currency appreciated by 05 paisas against the domestic unit in interbank due to outflow in the form of importers’ payments and a moderate supply of remittances and export proceeds.

The dollar, which was trading at Rs 121.40 in the interbank market during first half of trading closed at Rs 121.45 for buying and at Rs 121.65 for selling.

To provide strength to rupee, the central bank tried hard and made repeated interventions through different banks.

The euro closed at Rs 142 for buying and Rs 142.20 for selling, gaining 80 paisas.

The pound sterling closed at Rs 161.18 for buying and Rs 161.38 for selling. It remained firm by 42 paisas.

Kerb market: The dollar closed firm in the open currency market, said foreign exchange dealers. The US dollar closed at Rs 123.80 for buying and Rs 124 for selling, gaining 30 paisas from previous session’s level. Earlier in the day it was trading at Rs 123.78 for buying and Rs 123.99 for selling. The pound sterling closed firm at Rs 163 for buying and Rs 163.20 for selling, with 50 paisas upward change from previous session’s level. The euro closed at Rs 144 for buying and Rs 144.20 for selling. It gained 50 paisas on improved demand.

Published in Daily Times, June 27th 2018.

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