Rupee ends down by 14 paisas in interbank market

KARACHI: The Pak Rupee ended down by 14 paisas against dollar on Friday owing to advance payments ahead of weekly holidays.

The rupee closed at Rs160.59 to the dollar from previous day’s closing of Rs160.45 in interbank foreign exchange market.

The foreign currency market was initiated in the range of Rs160.50 and Rs160.60. The market recorded day high of Rs160.60 and low of Rs160.50 and closed at Rs160.59 in interbank foreign exchange market.

Currency experts said that the rupee was under pressure due to higher demand for import and corporate payments ahead of two weekly holidays.

The exchange rate in open market, however, witnessed gain in rupee value. The buying and selling of dollar was recorded at Rs160.00/Rs160.50 from previous day’s closing of Rs160.20/Rs160.70 in cash ready market.

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