Business News

Pakistan Rupee

Dollar eases to Rs152.94

KARACHI: The US dollar fell by eight paisas against the Pak Rupee on Friday owing to foreign inflows of Eurobonds issuance and lower import payment demand.

The rupee ended Rs152.94 to the dollar from previous day’s closing of Rs153.02 in the interbank foreign exchange market.

Currency dealers said that the State Bank of Pakistan (SBP) had received $2.5 billion as proceeds of Eurobond issuance. This transfer helped increase in foreign exchange reserves and ease pressure on the rupee.

Further, they said that importers were remained cautious in placing new orders due to continuous rise on coronavirus cases in the country.