Dollar closes smooth against rupee

KARACHI: The Dollar ended flat in the interbank and open markets alongside rupee on short demand, treasurers assumed here.

The dollar remained unchanged to close at Rs 104.10 for buying and Rs 104.30 for selling compared to previous closing in interbank. The gap of the greenback rates between the interbank and kerb markets remained 80 paisas on day’s average.

Commercial banks released payments to corporate sector’s imports, while forex inflow remained between $6.5 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 in comfort zone against the dollar after some improvement in flow of remittances. The euro remained down in the interbank to close at Rs 116.74 for buying and Rs 116.99 for selling. And the pound sterling remained down by losing 13 paisas to close at Rs 151.22 and Rs 151.51 for buying and selling respectively.

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