Rupee gains

KARACHI: The rupee slightly strengthened on Friday because of easing import payment pressure, dealers said.

The rupee closed at 155.74 against the dollar, up 0.12 percent from the previous closing of 155.92 in the interbank market.

In the open market, the rupee ended at 156 against the greenback. It finished at 156.10 on Thursday.

Dealers said the local unit gained ground after posting losses due to subdued demand for the US currency from importers.

“There were no big payments today. Improvement in supplies amid good foreign currency inflows also supported the local unit,” a foreign exchange dealer.

The market will look for the economic policies and measures to be announced in the FY2022 budget, dealers said. The market expects the government to deliver a pro-growth budget.