Rupee remains stable against dollar

KARACHI: The rupee ended flat against the dollar on Thursday, owing to the expected external inflows from lending agencies, dealers said.

The exchange rate ended at Rs161.89 against the greenback from the previous day’s closing of Rs161.90 in the interbank foreign exchange market.

The currency dealers said Pakistan is expecting to receive $2.8 billion from the International Monetary Fund (IMF) under the new global SDR allocations next month.

The demand for the import payments was seen during the day. However, inflows of export receipts and workers remittances helped the rupee maintain the value, they said.

The dealers also said the possible lockdown after the alarming rise in the coronavirus cases also discouraged importers to place advance orders to their foreign sellers.

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