Daily Times

The dollar remained flat in value versus domestic unit in the interbank market on insignificant demand, treasurers said.

The dollar closed flat at Rs 124.10 for buying and Rs 124.30 for selling.

The gap of the dollar rates between interbank and kerb markets remained 90 paisas on day’s trading average.

Banks made payments of $1.2 million to $1.3 million, while inflow remained between $3 million to $3.2 million, bankers said. State Bank of Pakistan did not make any intervention in the forex market, as there was not a great demand.

The central bank continues to provide dollars to commercial banks for their customers’ import payments for preventing the rupee from falling against the greenback.

The euro remained flat in value to close at Rs 145.22 for buying and Rs 145.42 for selling. And the pound sterling closed even in value at Rs 163.24 and Rs 163.44 for buying and selling respectively.

Kerb Market: The dollar closed dull in the open currency market on less-than-normal demand from private sector buyers.

The greenback closed at Rs 125.20 for buying and Rs 125.40 for selling in the open market. It shed 5 paisa in kerb.

The volume of transactions was comparatively low. There was less than normal demand while the supply was sufficient thus making it easy for domestic currency to stand firm. The pound sterling closed at Rs 163 for buying and Rs 163.20 for selling, it remained dull against the rupee by Rs 1.25 while euro closed at Rs 146 for buying and Rs 146.20 for selling, after Rs 2 downward change in value.

Published in Daily Times, September 23^rd 2018.