Greenback ends high versus rupee

KARACHI: The greenback closed high in the interbank and open markets on improved demand by corporate sector besides payments for import bills.

The dollar closed at Rs 104.85 for buying and Rs 105.05 for selling with 35 paisas change. The difference of the dollar rates between the interbank and kerb markets stayed to 35 paisas on average. Commercial banks remained watchful on inflows and outflows of dollar and in the open market and State Bank of Pakistan provided sufficient support to commercial banks to stabilise local currency.

The euro depreciated by 45 paisas to close at Rs 113.46 for buying and Rs 113.68 for selling. The pound sterling up by 32 paisas to close at Rs 154.38 and Rs 154.67 for buying and selling, respectively.

Kerb Market: The dollar closed high at Rs 106 for buying and Rs 106.25 for selling. It remained up by 10 paisas in the open market compared to previous closing.

The influx of greenback in the open currency market would remain normal in coming days. On the other hand in case of better influx of foreign remittances from Pakistani workers, this would put stability to rupee, said foreign exchange dealers.

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