KARACHI: US currency remained flat in interbank while eased against the rupee in the open market on the back of SBP’s decision to provide funds for imports payments.
The dollar remained flat at Rs 104.40 for buying and closed at Rs 104.60 for selling in interbank. It traded at a day high of Rs 104.42 and a low of Rs 104.39.
A treasurer at a local bank said the decision of State Bank of Pakistan to make oil payments remained the major factor for the Rupee’s firmness.
SBP has also tightened some rules regarding foreign exchange management to check outflows and stabilize the domestic currency. These measures seem to have started yielding positive results.
The euro gained 55 paisas to close at Rs 110.62 for buying and Rs 110.82 for selling. The pound sterling rose by 51 paisas to close at Rs 127.50 and Rs 127.70 for buying and selling respectively.
Kerb Market: The dollar shed strength owing to flat trend in the interbank market after SBP’s new directives to stabilize the local unit.
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