KARACHI, (MANEND NEWS): The buying rate of the US dollar was Rs160, while its selling rate was Rs160.8 on Thursday, January 28 at the opening of the currency market.
On Wednesday, the rupee gained marginally against the dollar in the interbank market, dealers said.
Dealers said the local unit traded weaker to as low as 160.65 against the dollar in the opening deals, but an improvement in the supply of the dollars helped it post slight gains at the close of the trade.
“We anticipate the local unit to remain range-bound, trading in the 160.45 and 160.75 range in the coming sessions,” the currency dealer said.
Another dealer said the rupee would strengthen further if the dollar supplies are more than the demand in the market. However, increasing demand for import payments may put pressure on the rupee.
Meanwhile, the following were the rates of the US Dollar, Saudi Riyal, UK Pound, the UAE’s Dirham, and other foreign currencies in the open market.
The information has been obtained from the Forex Association of Pakistan.