Rupee edges higher

KARACHI: The rupee inched up against the dollar in the interbank foreign exchange market on Tuesday, dealers said.

The rupee closed at 160.68 against the dollar, compared with Monday’s closing of 160.71.

In the open market, the rupee ended at 160.75, compared with 160.80 in the previous session.

Dealers said the rupee remained stable during the session, owing to the fewer import payments.

“The rupee ended slightly firmer in a lacklustre trade with the demand for the greenback reducing,” the foreign exchange dealer said.

“Most importers and the corporates had already covered their payments. The slowdown in the month-end demand eased pressure on the rupee,” he added.