Rupee eases by two paisas on higher corporate payments

KARACHI: The Pak Rupee eased by two paisas against dollar on Thursday owing to higher demand for import and corporate payments.

The rupee ended Rs156.19 to the dollar from previous day’s closing of Rs156.17 in interbank foreign exchange market.

Currency experts said that due the quarter ending the foreign companies were repatriating profits to their parent organizations. Similarly, oil and other import payments have also escalated demand for dollar.

The foreign currency market was opened in the range of Rs156.15 and Rs156.22. The market recorded day high of Rs156.26 and low of Rs156.18 and closed at Rs156.19.

The exchange rate in open market also witnessed depreciation in local currency. The buying and selling of dollar was recorded at Rs155.80/Rs156.30 from previous day’s closing of Rs155.70/Rs156.20 in cash ready market.

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