Karachi: Rupee on the third day of the trading week managed to post gains against the dollar mainly due to lesser import expenses and an recovering economic outlook.
The buying rate of the US dollar on Wednesday was Rs159.1, while its selling rate was Rs159.9 at the closing of market on Wednesday, February 10.
Meanwhile, according to Forex Association of Pakistan, the buying and selling rates of dollar in the open market were recorded at Rs159.1 and Rs159.9 respectively.
In interbank trading, the price of euro appreciated by 97 paisas and closed at Rs193.26 against the last day’s trading of Rs 192.29, State Bank of Pakistan reported.
According to the Currency dealers the rupee continued to appreciate versus the greenback due a slowdown in the demand of the dollar from importers. “There is a lack of import payment pressure. It seems the government had already bought oil to meet its demand,” a foreign exchange trader thought.
“The market didn’t react to the surge in the international oil prices,” he added.
Trump is taking his midterms anger out on Ukraine
- 19 hours ago
Pakistan warns India against any misadventure: FO
- 7 hours ago
Tesla unveils next generation Roadster sports EV with SpaceX thrusters
- 9 hours ago
Indian police detain 'cockroach' movement founder Dipke ahead of protest
- 7 hours ago
Microsoft’s new AI chip makes it less reliant on Nvidia’s GPUs
- 12 hours ago
Your flu shot can’t wait
- 19 hours ago
The AI race is back on
- 12 hours ago
The Fitbit Edge is for folks who don’t want to go totally screenless
- 12 hours ago
Halo’s co-creator wrote a novel about AI taking over the world
- 12 hours ago
Microsoft and Japan took down a cybercrime network behind over a billion scam messages
- 12 hours ago
Jodar apologises for swearing at ball kid in Shanghai
- 5 hours ago
KFC picks Coca-Cola as US soda supplier, ditches longtime partner PepsiCo
- 11 hours ago
