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.
KARACHI: Roshan Digital Account (RDA) inflows jumped 29 percent in March to $182 million, the State Bank of Pakistan...
ISLAMABAD: The government has set a cotton crop production target of 10.8 million bales for the upcoming season of...
KARACHI: The foreign exchange reserves held by the central bank dropped by $74 million to $7.981 billion in the week...
KARACHI: The Ministry of Energy has asked the Ministry of Interior and the Federal Board of Revenue to crack down on...
Stocks closed slightly lower Thursday in a mixed session amid institutional profit-taking in the overbought stocks...
KARACHI: The rupee dropped for the fourth straight session in the interbank market on Thursday due to a combination of...
KARACHI: After Pakistan’s oil refineries, petroleum dealers also announced their decision to oppose the deregulation...
HOUSTON: Oil prices were steady on Thursday as concern about fuel demand after slower-than-expected U.S. economic...