Karachi: The rupee strengthened against the dollar in both foreign exchange markets on Thursday after a three-day break due to the UAE’s $2 billion loan moratorium, balanced supply and demand, and positive economic indicators.
The dollar continued to depreciate throughout the trading session in the interbank market due to a decline in demand from regulators and imports and the export sectors cashing in their foreign exchange remittances.
The dollar had fallen by 27 paise at one point to Rs 278.45, but due to improved supply and demand, the dollar closed at Rs 278.60 at the end of the session, down by 12 paise.
Similarly, in the open currency market, the dollar closed at Rs 280.18, down by 06 paise.
