Daily Times

The greenback ended flat in value versus domestic unit in the interbank market amid thin activity and due to insignificant demand from corporate sector and importers.

The greenback was traded at Rs 121.40 for buying and Rs 121.60 for selling.

Domestic unit almost remained undisturbed because activity in the interbank market remained dull.

The State Bank of Pakistan’s decision to start paying for oil imports from its reserves is so far key factor in firmness of rupee. Payments of heavy oil import bills due to rising oil prices had been the main reason for rupee’s decline since couple of weeks.

The euro closed at Rs 141.69 for buying and Rs 141.89 for selling after gaining 36 paisas. The pound sterling closed at Rs 160.24 for buying and Rs 160.44 for selling after gaining Re 1.

Kerb Market: The US currency ended firm in open market on owing to improved demand from private sector and importers.

The dollar closed at Rs 124.25 for buying and Rs 124.45 for selling in the open market. It gained 45 paisas.

The pound sterling closed at Rs 16.75 for buying and Rs 162.95 for selling, it stood dull by 50 paisas against the rupee. The euro closed at Rs 143.75 for buying and Rs 143.95 for selling. It remained firm by 5 paisas.

Published in Daily Times, July 5^th 2018.