Rupee falls by nine paisas on higher demand for import payment

KARACHI: The Pak Rupee fell by nine paisas against dollar on Monday owing to higher demand for import and corporate payments after weekly holidays.

The rupee ended Rs156.17 to the dollar from last Friday’s close of Rs156.08 in interbank foreign exchange market.

Currency dealers said that the demand for import and corporate payment was high because the market was opened after two weekly holidays.

The foreign currency market was initiated in the range of Rs156.20 and Rs156.20. The market recorded day high of Rs156.23 and low of Rs156.16 and closed at Rs156.17.

The exchange rate in open market witnessed stable rupee value. The buying and selling of dollar was recorded at Rs155.80 and Rs156.30, the same last Friday’s closing, in cash ready market.

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