Dollar edges high against rupee

KARACHI: The dollar closed high in the inter-bank and open markets against rupee as demand witnessed improvement, treasurers said.

The dollar remained firm to close at Rs 104.70 for buying and Rs 104.90 for selling with 20 paisas increase compared to previous closing. The gap of the greenback rates between the interbank and kerb markets remained 75 paisas on day’s average. Commercial banks made payments to corporate sector’s imports, while forex inflow remained between $6.3 million to $7 million, bankers said. They said State Bank of Pakistan was keeping eye on money market to stablise local currency.

The central bank kept providing dollars to commercial banks for their customers’ payments for supporting the rupee from further falling against the greenback. The domestic currency remained under pressure against the dollar after active demand for different payments. The euro gained 67 paisas in the interbank to close at Rs 114.60 for buying and Rs 114.82 for selling. And the pound sterling remained firm by gaining Rs 1.57 to close at Rs 150.44 and Rs 150.73 for buying and selling respectively.

Kerb market: The dollar closed up in the open currency market on active demand. The greenback closed at Rs 106.70 for buying and Rs 106.95 for selling in the open market. It gained 10 paisas. The pound sterling closed firm at Rs 153.50 for buying and Rs 154.10 for selling, it gained Re 1 against the rupee while the euro closed at Rs 116.50 for buying and Rs 117 for selling, after a gain of 50 paisas.

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