Rupee ends down on coming holidays

KARACHI: The Pak Rupee ended down by 15 paisas against dollar on Thursday owing to higher demand due to upcoming long holidays including weekly and on account of Ashura e Muharram.

The rupee ended Rs156.38 to the dollar from previous day’s closing of Rs156.23 in interbank foreign exchange market.

Currency experts said that weekly holidays of Saturday and Sunday besides Monday and Tuesday for Muharram 9 and 10 kept pressure on the local unit.

The foreign currency market was initiated in the range of Rs156.40 and Rs156.50. The market recorded day high of Rs156.44 and low of Rs156.20 and closed at Rs156.38.

The exchange rate in open market however witnessed appreciation in rupee value.

The buying and selling of dollar was recorded at Rs156.00/Rs156.50 from previous day’s closing of Rs156.10/Rs156.60 in interbank foreign exchange market.

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