Greenback slips by Rs 1.44 against Pak-Rupee in interbank
KARACHI: The greenback on Thursday slipped by Rs 1.44 against the Pak-Rupee and now it is trading at Rs 160.17 in the interbank market, the market sources claimed.
The dollar was being traded at Rs 161.61 in the interbank market on Thursday morning, but it closed at Rs 160.17 in the interbank. The dollar was being appreciated four days of this week, the analysts claimed.
Recent gains in global capital markets, compounded with hopes of a new coronavirus treatment, have made traders optimistic as they are expecting an inflow of portfolio investment, the analyst said.
During April, around $208.75 million of hot money has been poured into market treasury bills — as against none in March — while liquidating over $799m from the same. The rupee was on the path to recovery for much of last week before the trend reversed on Friday, causing it to decline by 50 paisas.
“The dollar edged up the past few days because inward remittances had slowed a bit but now their flow has been somewhat restored, which has led the rupee to recover,” market expert said.
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