US dollar sold at Rs160.7 on January 13

KARACHI, (MANEND NEWS): The buying rate of the US dollar was Rs160, while its selling rate was Rs160.7 on Wednesday, January 13 at the opening of Pakistan’s currency market.

Earlier on Tuesday, the rupee edged higher against the dollar due to the routine dollar demand from importers, dealers said.

In the interbank market, the rupee closed at 160.37 against the dollar, compared with the previous closing of 160.39.

Dealers said the rupee remained flat in the absence of lower import payments.

“The rupee traded in a narrow range, amid insignificant importers’ dollar demand and the trading activity remained dull,” a foreign exchange dealer said.

The rupee is expected to hover in the band of 160 and 160.50 versus the greenback in the coming sessions, dealers said. There are some positive triggers for the rupee, they added.

Meanwhile, the following are the rates of the US Dollar, Saudi Riyal, UK Pound, the UAE’s Dirham, and other foreign currencies in the open market today.

The information has been obtained from the Forex Association of Pakistan.