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April 9, 2021

Rupee inches up

Business

April 9, 2021

KARACHI: The rupee posted more gains on Thursday due to lower import payments, dealers said.

The rupee closed at 153.02 to the dollar, compared with Wednesday’s close of 153.18 in the interbank market. The rupee ended at 153.40 against the dollar, compared with 153.50 in the previous session.

Dealers said the domestic currency posted slight gains amid soft dollar demand from importers and healthy supplies.

The demand for the greenback from importers remained subdued in the last few days, which has supported the rupee, dealers said, and added that dollar inflows from remittances and into Roshan Digital Account and dollar sales from exporters have also helped the local unit gain value.

“I think the rupee will hold steady, breaking the 153 levels in the coming sessions. There will be some fluctuation depending on import, debt payments, but the rupee should remain stable,” said another dealer.