Rupee extended gains on Thursday as ‘stability factor’ encouraged exporters to offload their export proceeds, dealers said. Rupee was up 43 paisas to close at 110.09 a dollar, stronger than 110.52 on Wednesday.
Dealers said the currency continued to gain strength helped by dollars sale from exporters and positive sentiment in the market. “The rupee is expected to trade around 110, but an IMF’s (International Monetary Fund) statement indicates there will be more currency slide in near future,” said a dealer. Pakistan’s foreign exchange reserves fell to $20.686 billion as of December 8 from $20.986 billion on December 5 when the country received $2.5 billion worth of foreign inflows from sale of two sovereign bonds. In the open market, the rupee traded at 109.80/110.30 against the dollar.
This initiative enables them to earn a dignified livelihood for their families
The event will host more than 700 booths, including leading global and Pakistani tech giants
Gold rates increased by $8 to all-time high rates of $2,371 per ounce in the international market
Strong retail sales prompted economists at Goldman Sachs to boost their gross domestic product
The IMF dictates its terms based on our past performance
Goldman's profit rose 28 percent to $4.13 billion, or $11.58 per share, in the first quarter
