KARACHI: The US currency remained flat against the rupee in interbank trade and on the open market on the back of central bank’s decision to provide funds for oil payments.
The dollar remained flat to close at Rs 104.40 for buying and Rs 104.60 for selling in interbank. It was traded at a day high of Rs 104.41 and a low of Rs 104.59.
A treasurer at a local bank said making oil payments remained the major factor for rupee’s firmness.
Besides the oil payment decision, SBP has also tightened some rules regarding foreign exchange management to check outflows and stabilize the domestic currency.
The euro gained 21 paisas to close at Rs 110.40 for buying and Rs 110.60 for selling. The pound sterling stood firm by 90 paisas to close at Rs 130.90 and Rs 131.10 for buying and selling respectively.
Kerb Market: The rupee stood flat owing to a trend in the interbank market after SBP’s new directives to stabilize the local unit.
The dollar closed at Rs 107.27 for buying and Rs 107.47 for selling. It lost 02 paisas in the open market.
The demand in the open currency market from the people going to perform umrah has now down, thus relieving the rupee of pressure. The pound sterling closed at Rs 133.90 for buying and Rs 134.10 for selling, it gained 81 paisas against the rupee. The euro closed at Rs 113 for buying and Rs 113.20 for selling. It lost 10 paisas in the open market.
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