Pakistan rupee gains sharply to close at 4-mth high: Reuters

KARACHI, March 25 (Reuters) - The Pakistani rupee gained sharply on Thursday to close at a near four-month high, thanks to increased dollar inflows and easing demand from importers, dealers said.

The rupee PKR closed at 83.67/72 to the dollar compared with 84.10/13 on Wednesday.

"There have been some good dollar inflows in recent days which have supported the rupee," said a dealer at a foreign bank.

Another dealer said the strengthening rupee had also forced exporters to sell dollars more aggressively in the interbank market, further improving supplies of the U.S. currency.

"Dollar supplies are currently more than the demand and the market is anticipating more inflows as well, and this has resulted in more dollar selling by exporters who fear losses in case the rupee gains further," said the dealers.

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