- The buying rate of the US dollar was Rs160.5, while its selling rate was Rs161.2 on January 22.
- A foreign exchange dealer said that rupee made gain due to mild demand, amid insignificant payments.
- Traders to watch SBP’s decision on policy rate for future direction.
KARACHI: The buying rate of the US dollar was Rs160.5, while its selling rate was Rs161.2 on Friday, January 22.
On Thursday the rupee ended slightly weaker at 160.75 against the dollar in the open market. It had finished at 160.70 in the previous session.
“The rupee continued to post gains in the last two sessions due to mild demand, amid insignificant payments,” a currency dealer said.
“Some dollar selling by exporters also supported the rupee during the trade.” Traders didn’t react negatively to the current account deficit in December.
The currency dealers of the country are expecting the rupee to trade in a stable range in the today’s session ahead of a central bank policy meeting on Friday.
Traders will watch the SBP’s decision for future direction. The State Bank of Pakistan is expected to keep the policy rate unchanged at 7%.
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.
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