Daily Times

The greenback gained value in interbank and open market due to higher demand by corporate sector for payments abroad and on dull forex reserves.

The greenback after trading at Rs 138.40 in value versus domestic unit closed at Rs 138.50 for buying and Rs 138.70 for selling in interbank, gaining 10 paisas.

The difference of dollar rates between interbank and kerb market increased by 45 paisas on day’s average.

Dollar rose sharply on demand from corporate sector, as State Bank of Pakistan paid oil import bill. The magnitude of payment could not be ascertained. The euro remained high to close at Rs 157.41 for buying and Rs 157.61 for selling. It gained 59 paisas. The pound sterling remained dull to close at Rs 174.20 and Rs 174.40 for buying and selling respectively. It shed Rs 1.89.

Kerb Market: The dollar ended higher in open currency market owing to its demand from buyers sending money abroad. The dollar closed at Rs 139.20 for buying and Rs 139.40 for selling after gaining 20 paisas.

The pound sterling closed at Rs 174 for buying and Rs 174.20 for selling, it lost Rs 2 against rupee. The euro closed at Rs 157.50 for buying and Rs 157.70 for selling. It stood even in value.

Published in Daily Times, December 12^th 2018.