KARACHI: The US dollar made a gain against the Pak Rupee (PKR) for the second consecutive day on Tuesday.
The rupee fell by 43 paisas to end at Rs166.39 to the dollar as against previous day’s closing of Rs165.96 in the interbank foreign exchange market.
The rupee depreciated a day earlier by 34 paisas against the dollar.
Currency experts said that the market witnessed higher demand for the dollar. They said that external payment in the shape of import and corporate payments remained higher.
They said that the widening trade deficit remained a concern for the market.
They however, said that support for the local currency might come from export receipts and workers’ remittances.
The experts further said that the latest initiatives of the State Bank of Pakistan (SBP) to facilitate Non Resident Pakistanis (NRPs) might result in inflows of the foreign currency.