Published On: Mon, Apr 29th, 2013

Currency market on Monday Rupee ends flat; o/n rates up

In the currency market on Monday, the Pakistani rupee closed almost flat at 90.74/79 to the dollar, compared with Friday’s close of 90.76/78.

The rupee has been supported by remittances, which rose 21.45 per cent to $9.73 billion in the first nine months of the 2011/12 fiscal year, compared with $8.02 billion in the same period last year.

In March, remittances totaled $1.14 billion.

Overnight rates in the money market ended at 11.90 per cent, up from Friday’s close of 11 per cent because of decreased liquidity in the market.

(Dawn)

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