Rupee eases two paisas amid higher import payment demand

KARACHI: The Pak Rupee ended down by two paisas against dollar on Monday amid higher demand for import and corporate payments.

The rupee ended at Rs154.85 to the dollar from last Friday’s closing of Rs154.83 in interbank foreign exchange market.

Currency dealers said that the market initiated with higher demand for dollars. The demand was higher due to opening of the market after two weekly holidays.

The foreign currency market was initiated in the range of Rs154.85 and Rs154.90. The market recorded day high of Rs154.89 and low of Rs154.84 and closed at Rs154.85.

The exchange rate in open market however, witnessed appreciation in rupee value. The buying and selling of dollar recorded at Rs154.70/Rs155.00 as compared with last Friday’s closing of Rs155.00/Rs155.40 in cash ready market.

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