US dollar sold at Rs159.2 on February 25

• The buying rate of the US dollar was Rs158.5, while its selling rate was Rs159.2
  
• Dealers said the domestic currency continued to appreciate against the greenback due to improvement in the current account balance
  
• “There were routine import payments. Inflows were also higher than the demand,” a foreign currency dealer said
  

KARACHI: The buying rate of the US dollar was Rs158.5, while its selling rate was Rs159.2 on Thursday, February 25 in the open market.

Dealers said the domestic currency continued to appreciate against the greenback due to improvement in the current account balance, higher remittances, and increased inflows from overseas Pakistanis in the Roshan Digital Account initiative.

“There were routine import payments. Inflows were also higher than the demand,” a foreign currency dealer said. “We expect the rupee to continue a range-bound trading pattern in the coming sessions.”

Read more: US dollar rate against Pakistani rupee on Feb 24

The decline in the current account deficit and rising remittances could bode well for the rupee and the foreign exchange reserves, a currency dealer told The News.

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 Exchange companies Association of Pakistan