The dollar, which was trading at Rs 123.20 in the interbank market during first half of trading closed at Rs 123.40 for buying and at Rs 123.60 for selling.
To lift the falling rupee, the central bank tried hard and made repeated interventions through different banks although SBP said they did not try to support domestic currency. Oil import bill accounted for major chunk of the payments from interbank market. Roughly $200 to $225 million are now required each month to provide for oil import bill.
The euro closed at Rs 141.11 for buying and Rs 141.31 for selling, gaining 71 paisas.
The pound sterling closed at Rs 157.13 for buying and Rs 157.33 for selling. It rose by 22 paisas.
Kerb market: The rupee ended lower in the open currency market.
The US dollar closed at Rs 122.25 for buying and Rs 122.45 for selling, rising 50 paisas from previous session’s level. Earlier in the day it was trading at Rs 122.15 for buying and Rs 122.44 for selling.
The pound sterling closed at Rs 152 for buying and Rs 152.20 for selling, it shed 50 paisas from previous session’s level. The euro closed at Rs 135.25 for buying and Rs 135.45 for selling. It gained 25 paisas.
Published in Daily Times, August 21st 2018.
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