US dollar rate against Pakistani rupee on March 10

• The buying rate of the US dollar was Rs156.7, while it was sold at Rs157.6.
  
• Dealers say the demand for the greenback from importers has remained steady since the start of this month.
  
• Increased dollar inflows in the form of remittances have helped the local unit gain value against the greenback.
  

KARACHI: The buying rate of the US dollar was Rs156.7, while it was sold at Rs157.6 on Wednesday, March 10 at the closing of Pakistan's currency market.

Dealers said the demand for the greenback from importers remained steady since the start of this month, which has supported the rupee.

Increased dollar inflows in the form of remittances from Pakistanis abroad and Roshan Digital Account, official inflows, and export proceeds have helped the local unit gain value against the greenback.

Read more: US dollar sold at Rs157.30 in Pakistan on March 9

“I think the rupee will maintain momentum and make slight gains in days ahead. Any demand that comes from the importers and corporate sides is expected to be met by adequate dollar inflows, a foreign exchange trader told The News.

“The supply and demand position of dollars and the upcoming data on the country’s forex reserves will determine the future direction of the rupee. The rupee should conclude this week at 156.80-156.90 per dollar.”

Meanwhile, following were the rates of the US Dollar, Saudi Riyal, UK Pound, the UAE's Dirham, and other foreign currencies in the open market.

The information has been obtained from the Forex Association of Pakistan.