Sunday, September 25, 2022

Rupee gains against US dollar


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]
Pakistani rupee gained 5 paisas against dollar on Wednesday to close at Rs138.80 compared with the last closing of Rs138.85 in inter-bank market as the demand and supply situation remained balanced.
The rupee was under pressure given the rising tension between the two countries, but intervention by International community resulted in prevalence of positive sentiments in the market.
The demand by the importers and corporate sector was offset by flow of remittances and export receipts.
Rupee remained stable against the greenback in the open market.
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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