The US dollar on the second day of the trading week— Tuesday has hit aone-year low in domestic exchange markets.
Karachi: In the interbank exchange market, the US dollar lost 19 paisa toclose at Rs157.85. Whereas, in the open market, the dollar fell 40 paisasto Rs157.90 at the closing of the currency market.
According to the data released by the State Bank of Pakistan, the dollarhas decreased by 19 paisas in the interbank market. Dealers also opine thatthe next range for the rupee could be Rs157.40 to Rs157.90.
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“The demand for the hard currency remained subdued due to fewer importpayments. Strong inflows from remittances and Roshan Digital Account haveincreased the dollar supplies in the market,” said a currency dealer. “Weexpect the rupee to easily trade below Rs158 levels/dollar in the comingsessions. The next range for the rupee could be Rs157.40 to Rs157.90.”