The rupee showed its muscles against dollar on the currency market on Tuesday due to no major payment, dealers said. The rupee improved versus dollar following the further smoothness between Pak-US relationship, they said and adding that the rupee gained 25 paisa in relation to the greenback for buying and selling at 93.75 and 93.80, they said.
Pakistan on its part has been refused contribution of American friends and investments have been taken away plus the International Monetary Fund (IMF) dues have to be paid back. Pakistan has been in tight corner because it cannot pay back money borrowed, experts said.
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Buying Rs 93.75
Selling Rs.93.80
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Open Buying Rs.94.50
Open Selling Rs.95.00
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According to the currency dealers, because of lacking demand, the dollar remained under pressure and was further declined to Rs 94.85 and Rs 95.3 as its buying and selling rates against the overnight closing of Rs 95.4 and Rs 95.7 respectively.
The rupee also showed strength and was appreciated against the pound sterling. The pound's buying and selling rates were decreased from the day earlier closing of Rs 148 and Rs 149 to Rs 147.9 and Rs 148.5, respectively, the dealers said.
The dollar opened at Rs 96.20 (buying) and Rs 96.40 (selling) against last rate of Rs 96 (buying) and Rs 96.20 (selling). It did not observe further change in the evening session and closed at Rs 96.20 (buying) and Rs 96.40 (selling).
Pound Sterling opened at Rs 147 (buying) and Rs 147.50 (selling) against same last rate. It did not observe further change in the evening session and closed at Rs 147 (buying) and Rs 147.50 (selling).