KARACHI: The Pak Rupee sharply fell by Rs1.08 against the dollar on Wednesday owing to rise in import payment demand.
The rupee ended Rs166.28 to the dollar from the previous day’s closing of Rs165.20 in the interbank foreign exchange market.
The rupee fell to a year low against the dollar. Previously, the rupee fell to Rs166.24 to the dollar on August 31, 2020.
Currency experts said that mounting demand for import payment had deteriorated the rupee value.
They said that ease in coronavirus restrictions and rise in international oil prices increased the demand for dollars for import payments.
