Friday Feb 19, 2021
KARACHI: The opening buying rate of the US dollar was 159, while its selling rate was Rs159.2 on Friday, February 19.
On Thursday, the rupee rose for the second consecutive session due to tepid dollar demand from importers, while positive economic sentiment also supported the local unit, a dealer said.
Dealers said the rupee again come to the 158 levels owing to insignificant import payments and the market’s optimism that increasing inflows from the overseas Pakistanis under Roshan Digital Account (RDA) and the release of $500 million from the International Monetary Fund, after the completion of the pending reviews and subject to the fund’s approval, would boost the outlook for Pakistan’s economy.
“There were fewer import payments today. The sentiment was definitely positive for the domestic currency, as traders expected that more inflows would happen following the resumption of the IMF loan programme,” a foreign exchange dealer said.
Meanwhile, the following were the rates of the US Dollar, Saudi Riyal, Euro, the UAE's Dirham, and other foreign currencies in the open market.
The information has been obtained from the Exchange Company Association of Pakistan.