Rupee depreciates by 10 paisas against dollar

Rupee depreciates by 10 paisas against dollar

KARACHI: The Pak Rupee (PKR) depreciated by 10 paisas against the dollar on Friday. The local currency fell due to dollar demand pressure for import payments.

The interbank foreign exchange market closed at Rs164.18 to the dollar from the last closing of Rs164.08 on August 17, 2021.

Currency experts said that the dollar demand was high because the market opened after two holidays.

The government had announced public holidays on August 18 and August 19, 2021 on account of Muharram.

The experts said that the rupee was also under pressure because of the last trading day.

They hoped that the rupee might make gains during the next week owing to inflows of $2.77 billion from the International Monetary Fund (IMF).

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