Dollar sold for Rs159.3 at closing of market on February 12

KARACHI: The buying rate of the US dollar was Rs158.6, while its selling rate was Rs159.3 at the closing of the market on Friday, February 12.

During the last day's trading, the rupee posted gains against the dollar in the interbank market amid strong inflows. The rupee closed at 159.07 against the dollar, up from 159.31 in the previous session. It appreciated 0.15 percent during the trade.

Dealers said the supplies were healthy and enough to meet the importers’ demand and so the local unit gained value against the dollar.

“We anticipate the rupee to move in the range of 159 and 159.25 against the dollar in the coming sessions,” a foreign exchange dealer said.

The rupee has been supported by inflows from remittances, exports, and international financial institutions. Robust inflows under the Roshan Digital Account and the current account surplus have also kept the rupee stable.

Read more: Dollar being sold at Rs159.9 at closing of trading on Feb 10

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.