Rupee gains

Our Correspondent
Friday, Dec 02, 2022

KARACHI: The rupee gained ground versus the dollar on Thursday after being unchanged for the previous three days.

In the interbank market, the rupee ended at 223.69 to the dollar, compared with Wednesday’s close of 223.95. It rose by 0.12 percent on a day-on-day basis. The rupee also closed steadily at 231.50 per dollar in the open market.

Dealers said the rupee traded stronger on the back of dull dollar demand from importers. “We saw lower demand for the greenback from importers,” said a currency dealer. “The demand for the dollar from importers remained limited since the central bank took administrative measures to control certain imports. Besides, inflows from exports and remittances slowed down,” he added.