Wednesday, February 19, 2020

Rupee gets stronger against USD on sufficient supply

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Zain Zubair
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 15 paisas on Friday and closed at Rs138.78 to the dollar compared with previous day’s closing of Rs138.93 in interbank foreign exchange market.

 

The inflow of $2.0 billion from UAE as financial assistance lifted the market sentiment.

 

There was stable demand for import payments and contract payments from corporate sector, while export receipts and remittances kept the greenback pressure free.

 

Malik Bostan Khan, President, Forex Association of Pakistan (FAP) said buying and selling of dollar recorded at Rs138.76/Rs138.86 as against last closing of Rs138.89/Rs138.98 in cash free market.

Zain Zubair
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]o.com

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