The rupee traded higher on Thursday, amid slowdown in the dollar demand from importers, dealers said.
The rupee gained 27 paisas to close at 123.96 against the dollar, compared with Wednesday’s closing of 124.23.
Traders said the currency showed a modest strength on relatively lower-than-usual demand from importers and the corporate sector.
“The interbank market remained calm. We expect the rupee to trade at 124.10/15 by the end of this week,” a trader said. In the open market, the rupee managed to gain 50 paisas against the dollar. The rupee traded at 122/123 on improved supplies of the dollars.
A representational image showing an oil refinery. — AFP/FileKARACHI: Pakistan Petroleum Limited has announced a...
P@SHA Chairman Zohaib Khan was the esteemed Chief Guest at Aptech 2023. — X/PASHAORG/FileKARACHI: Muhammad Zohaib...
PSX marked the listing of the Mahaana Islamic Index Exchange Traded Fund with a gong ceremony on April 23, 2024. —...
FPCCI Regional Chairman and VP Zaki Aijaz while speaking during a round table discussion on the challenges and...
This representational image shows Gold bars. — AFP/FileKARACHI: Gold prices in the local market fell by Rs7,800 per...
Security personnel walk past the US Federal Reserve building in Washington, DC on Oct 22, 2021. — AFPNew York:...