Rupee ends down by 20 paisas against dollar

KARACHI: The Pak Rupee fell by 20 paisas against US dollar on Tuesday owing to higher demand for import and corporate payments.

The rupee ended at Rs138.92 to the dollar from previous day’s closing of Rs138.72 in interbank foreign exchange market.

The interbank foreign exchange market was initiated in the range of Rs138.90 and Rs138.95.

The market recorded day high of Rs138.95 and low of Rs138.90 and closed at Rs138.92.

Currency experts said that the local unit made significant gains a day earlier owing to the visit of Saudi Crown Prince and investment pledges and signing of agreements.

However, the local currency failed to maintain values against the greeback.

The exchange rate in open market also witnessed depriciation of 30 paisas in the vaule of rupee.

The buying and selling of dollar was recorded at Rs138.50/Rs139.00 as compared with Rs138.20/Rs138.70 in cash ready market.

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