Rupee ends firmer against dollar

KARACHI: The rupee ended firmer against the dollar on Friday, owing to reports of inflows from the International Monetary Fund (IMF), dealers said.

The exchange rate ended at Rs164 against the greenback from the previous day’s closing of Rs164.01 in the interbank foreign exchange market.

The currency dealers said the rupee remained under pressure due to the higher demand of the foreign currency for import payments.

However, the market anticipated the announcement by the finance minister regarding the date of inflows from the IMF.

A day ago, Finance Minister Shaukat Tarin said that Pakistan will get $2.77 billion from the IMF on August 23, 2021.

The dealers said such inflows would help the country ease pressure on the external front. However, the ballooning trade deficit remained a concern for the rupee stability.

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