Rupee ends down by six paisas in interbank market

KARACHI: The Pak Rupee ended down by six paisas against dollar on Tuesday amid demand from importer and corporate sector for the foreign currency.

The rupee ended at Rs160.59 to the dollar from previous day’s closing of Rs160.53 in interbank foreign exchange market.

The foreign currency market was initiated in the range of Rs160.35 and Rs160.50. The market recorded day high of Rs160.65 and low of Rs160.15 in interbank foreign exchange market.

Currency experts said that the local currency was under pressure due to scheduled payments for foreign debts and higher demand for import payments.

The exchange rate in open market witnessed appreciation in rupee value. The buying and selling of dollar was recorded at Rs159.60/Rs160.60 from previous day’s closing of Rs160.20/Rs160.70 in cash ready market.

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