Friday, August 19, 2022

Rupee gains against USD


Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]

Pak rupee gained 10 paisas against dollar on Wednesday to close at Rs138.90 compared with the last closing of Rs139.00 in inter-bank market.

The market sentiment was improved because of the successful visit of Saudi Crown Prince Mohammed bin Salman, who pledged $20 billion in investments. However, still a sense of uncertainty prevails in the market, due to which currency is fluctuating in a very narrow range.

The demand by the importers and corporate sector was offset by flow of remittances and export receipts.

Malik Bostan Khan, President Forex Association of Pakistan said the buying and selling of US dollar was recorded at Rs138.50/Rs139.00 as against last closing of Rs138.50/Rs139.00 in cash free market.


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