The US dollar’s purchasing rate was Rs160.5, while on Wednesday its selling rate was Rs161.2.
Because of the easing payment pressure and optimistic sentiment, the rupee ended up stronger against the dollar on Tuesday.
Dealers said they expect the rupee in the coming sessions not to break 160 levels.
KARACHI: The US dollar’s buying rate was Rs160.5, while its selling rate was Rs161.2 at the opening of the currency market on Wednesday, January 27.
On Tuesday, because of the easing payment pressure and optimistic sentiment, the rupee ended stronger against the dollar, dealers said.
The market did not have heavy payments and demand for the greenback remained slow,” said a foreign exchange dealer.”
“Reports of the World Bank’s extension of financial support to Pakistan and the issuance of Islamic bonds have contributed to positive market sentiment,” he added.
Dealers said they expect the rupee in the coming sessions to not break the 160 mark, but much will rely on demand and inflows from export proceeds and remittances.
Meanwhile, the prices of the US Dollar, the Saudi Riyal, the UK Pound, the Dirham of the UAE, and other free market foreign currencies were as follows.
The details were obtained from the Pakistan Forex Association.
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