KARACHI: The buying rate of the US dollar was Rs159, while its selling rate was Rs159.8 at the opening of market on Wednesday, February 10.
During the previous day’s intraday trading the rupee managed to post gains against the dollar on lower import payments and an improving economic outlook.
Currency traders said the rupee continued to appreciate versus the greenback due a slowdown in the demand of the dollar from importers.
“There is a lack of import payment pressure. It seems the government had already bought oil to meet its demand,” a foreign exchange trader said.
“The market didn’t react to the surge in the international oil prices,” he added.
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.