US dollar closes against rupee on Feb 9 at Rs159

• The buying rate of the US dollar was Rs159, while its selling rate was Rs159.8
  
• Dealers credit healthy inflows and increase in exports for the gains
• Currency traders expect the rupee to continue to be supported in the coming sessions potentially trading in the range of 159.30 and 159.60

KARACHI: The buying rate of the US dollar was Rs159, while its selling rate was Rs159.8 on Tuesday, February 9.

At the opening day of the week, the rupee closed stronger against the greenback due to healthy inflows, while positive sentiment amid increase in exports helped prop up the local unit.

In the open market, the rupee had closed at 159.80/dollar on Monday, compared with the previous closing of 160.10 .

“Inflows from remittances, exports and debt securities outpaced importers’ demand today,” a foreign exchange dealer said. 

Read more: Rupee likely to remain stable against US dollar next week, say market experts

“The rise in exports in January and reports of retaining $2 billion financial support from Saudi Arabia and the United Arab Emirates to Pakistan also helped the sentiment,” he added.

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.

Read more: US dollar rate against Pakistani rupee on February 4

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