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business
Wednesday Feb 24 2021
By
Web Desk

US dollar rate against Pakistani rupee on Feb 24

By
Web Desk
The buying rate of the US dollar was Rs158.6, while its selling rate was Rs159.3. STOCK IMAGE

KARACHI: The buying rate of the US dollar was Rs158.6, while its selling rate was Rs159.3 on Wednesday, February 24 in the open market.

During last day's trading, the rupee ended stronger against the dollar with the fiat gaining 30 paisas to end at 159.10 against the greenback.

Dealers told The News that the local currency gained ground due to insignificant dollar demand from importers for payments and positive economic sentiment among traders.

The improvement in the current account balance and higher growth levels in the workers’ remittances acknowledged by a global rating agency lifted traders’ sentiment.

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

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 Forex Association of Pakistan.

CurrencyBuyingSelling
Australian Dollar123.5126
Canadian Dollar124.5126.5
China Yuan24.925.05
Euro191.5193.5
Japanese Yen1.551.58
Saudi Riyal4242.5
UAE Dirham4343.5
UK Pound Sterling223.5226
US Dollar158.6159.3