Currency: Rupee gains against dollar
The local unit closed at 84.55 to the dollar, up from Thursday’s close of 84.75.
KARACHI:
The rupee ended stronger against the dollar as it gained 20 paisa amid softer demand for the greenback on Friday.
The local unit closed at 84.55 to the dollar, up from Thursday’s close of 84.75.
The rupee has performed strongly in recent months, hitting an 11-month high last month, thanks largely to record inflow of remittances, strong foreign exchange reserves, healthy exports and a current account surplus.
Published in The Express Tribune, May 7th, 2011.
The rupee ended stronger against the dollar as it gained 20 paisa amid softer demand for the greenback on Friday.
The local unit closed at 84.55 to the dollar, up from Thursday’s close of 84.75.
The rupee has performed strongly in recent months, hitting an 11-month high last month, thanks largely to record inflow of remittances, strong foreign exchange reserves, healthy exports and a current account surplus.
Published in The Express Tribune, May 7th, 2011.