Rupee falls by 19 paisas on import payment demand

KARACHI: The Pak Rupee fell by 19 paisas against dollar on Monday owing to higher demand for import and corporate payments, dealers said.

The rupee ended at Rs156.37 to the dollar from last Friday’s closing of Rs156.18 in interbank foreign exchange market.

The currency dealers said that the local currency was remained under pressure at the start of market. However, later in the day inflows helped the local currency to recover earlier day losses.

The foreign currency market was initiated in the range of Rs156.60 and Rs156.70. The market recorded day high of Rs156.60 and low of Rs156.25 and closed at Rs156.37.

The exchange rate in open market also witnessed decline in local currency value.

The buying and selling of dollar was recorded at Rs156.00/Rs156.50 from last Friday’s closing of Rs155.80/Rs156.30 in cash ready market.

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