KARACHI: The purchase rate of the US dollar was Rs157.15, while the sale rate was 157.35 on Thursday, March 4 at the opening of the currency market.
“The appetite for hard currency to be paid by importers has been subdued,” said a foreign exchange broker at a commercial bank on Wednesday.
“The surplus of dollars remained higher than the market, which drove the rupee up against the greenback.” In the interbank sector, the current amount has been the highest since March 9 last. The rupee was 0.5 percent higher than the previous close of 157.85.
Local currency rose 6.7% or Rs11.3 to the dollar since August 26 last, when it reached a record low of 168.43. The rupee has so far risen by 0.57% this week.
