KARACHI: Deterioration in Pak Rupee continued on Thursday owing to demand for import and corporate payments.
The rupee closed at Rs153.45 to the dollar from the previous day’s closing of Rs153.22 in the interbank foreign exchange market.
The rupee recorded a decline of Rs1.18 against the dollar since resumption of trading after Eid Holidays. The government had announced Eid Holidays from May 10, 2021 to May 15, 2021, which followed Sunday on May 16, 2021.
Currency experts said that due to extended Eid holidays the rupee remained under pressure.
They also said that ease in restriction related to coronavirus also encouraged importers to place orders to their foreign buyers.
They, however, said that the record inflows of workers’ remittances and export receipts of the local currency would make gains in the coming days.
