Rupee ends down on dollar demand ahead of week-long holidays

KARACHI: The Pak Rupee ended down by 19 paisas against dollar on Friday owing to higher demand for import payments ahead of Eid and weekly holidays.

The rupee closed at Rs158344 to the dollar from previous day’s closing of Rs158.25 in interbank foreign exchange market.

Currency experts said that demand for greenback was high due to Eid and weekly holidays. The market will remain close for next six days and will reopen next Friday August 16, 2019.

The government has announced holidays for Eid-ul-Azha from August 12 to August 15.

The exchange rate in open market also witnessed significant depreciation in rupee value. The buying and selling of dollar was recorded at Rs158.30/Rs159.30 from previous day’s closing of Rs157.40/Rs158.40 in cash ready market.

Related Posts

Rupee ends unchanged against dollar

Leave a Reply

You have to agree to the comment policy.