US dollar sold at Rs161 in Pakistan on February 3

• The buying rate of the US dollar was Rs160.2, while its selling rate was Rs161 on Wednesday
  
• Dealers said that the rupee was expected to stay range-bound in the coming days
  
• They said that inflows were also pretty good in the market, which helped the rupee to remain stable
  

KARACHI: The buying rate of the US dollar was Rs160.2, while its selling rate was Rs161 on Wednesday, February 3 at the closing of the currency market.

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.

A day earlier, dealers said that the domestic currency gained ground in the absence of import payments. Most payments were covered in the previous session.

Read more: US dollar rate in Pakistan on February 2

“Inflows were also pretty good in the market, which helped the rupee to remain stable,” the dealer added. 

Dealers said the rupee was expected to stay range-bound in the coming days, as healthy dollar inflows from higher remittances from Pakistanis workers abroad and export proceeds were likely to prevent any sharp depreciation in the local unit’s value.

The information has been obtained from the Forex Association of Pakistan.