KARACHI: The Pak Rupee depreciated by 18 paisas against dollar on Friday owing to higher demand for import and corporate payments.
The rupee ended Rs156.54 to the dollar from previous day’s closing of Rs156.36 in interbank foreign exchange market.
Currency dealers said that the market witnessed higher demand for import and corporate payments due to weekly holidays ahead.
The foreign currency market was initiated in the range of Rs156.38 and Rs156.43. The market recorded day high of Rs156.55 and low of Rs156.40 and closed at Rs156.54.
The exchange rate in open market also witnessed depreciation of local currency. The buying and selling of dollar was recorded at Rs156.20/Rs156.70 from previous day’s closing of Rs156.00/Rs156.50 in cash ready market.