KARACHI: The greenback remained dull in value against the rupee in the interbank and appreciated in open market. Due to insignificant demand from corporate and private sector, dollar lost value by 8 paisas in interbank.
The dollar closed at Rs 121.40 for buying and Rs 121.60 for selling. It traded at a day high of Rs 121.42 and a low of Rs 121.39. 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 remained flat at Rs 141.33 for buying and Rs 141.53 for selling. The pound sterling closed even in value to close at Rs 159.14 and Rs 159.34 for buying and selling respectively.
Kerb Market: The dollar gained strength. Greenback closed at Rs 124.05 for buying and Rs 124.25 for selling. It gained 15 paisas in the open market. The pound sterling closed at Rs 162.85 for buying and Rs 163.05 for selling, thus closed u by 60 paisas against the rupee. The euro closed at Rs 143.25 for buying and Rs 143.45 for selling. It gained 50 paisas in the open market.
Published in Daily Times, July 3rd 2018.
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