Dollar strengthened against Rupees in Pakistan’s currency market

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Dollar strengthened against Rupees in Pakistan’s currency market
Pakistan’s currency market Pakistan news

The buying rate of the US dollar was Rs160, while its selling rate was Rs160.8 on Tuesday, January 12 at the opening of Pakistan’s currency market.

Earlier on Monday, the rupee ended slightly weaker against the dollar in the interbank currency market, dealers said.

“The rupee fell in its value against the dollar due to increased demand for the greenback for import payments. The demand usually goes up when the market opens after the weekend,” a foreign exchange dealer said.

“Trading range for the week is expected to be 160 to 160.50 per dollar,” he added. Most dealers anticipate the local unit to stay range-bound in the coming sessions.