KARACHI: The Pak Rupee fell by 14 paisas against the dollar on Tuesday owing to high demand for import and corporate payments.
The rupee ended Rs153.54 to the dollar from previous day’s closing of Rs153.40 in the interbank foreign exchange market.
Currency experts said that the market was under pressure due to dollar demand for import and corporate payments.
They said that due to fiscal year ending in the month of June the corporate buyers were seen active for dollar buying. Furthermore, the demand was also seen for oil import payment.
They however said that the rupee would recover value in coming days owing to sufficient inflows of export receipts and workers’ remittances.
