KARACHI: The Pakistani Rupee has continued its upward trend against the dollar in the interbank market and gained 21 paisas closing at Rs 152.75 for buying and Rs 152.85 for selling.
According to the dealers at exchange companies, the dollars’ demand from the importers remained low throughout the day while the inflows of the greenback went up. According to the exchange companies, the dollar closed at Rs 152.70 in the interbank market.
The Pak rupee has so far gained 87 paisas against the US dollar in April. However, it gained around Rs 5.86 paisas in March 2021. According to the interbank officials, the dollar opened at Rs 152.85 in the interbank market on Monday, but the rupee remained strong owing to the higher inflows.
The local banks are receiving deposits through remittances, Roshan Digital Accounts (RDA), and Naya Pakistan Certificates, he added.
The dollar in the open currency market also witnessed a downward trend as there was no demand for the greenback and exchange companies are following the interbank rates, the dealers said. The dollar closed at Rs 152.80 for buying and Rs 152.90 for selling in the kerb market, the dealers said.
A dealer said that the Pak rupee would further appreciate in interbank and open currency markets in the coming days as we are looking at higher inflows of the greenback through RDA.
