Rupee depreciates by 19 paisas against dollar

Rupee depreciates by 19 paisas against dollar

KARACHI: The Pak Rupee depreciated by 19 paisas against the dollar on Tuesday owing to higher demand for import payments, dealers said.

The rupee ended at Rs158.37 to the dollar from the previous day’s closing of Rs158.18 in the interbank foreign exchange market.

The dealers said that payment demand for import had witnessed an increase as economic activities had gained momentum.

The dealers said that the rupee may rebound in the coming days owing to substantial inflows of export receipts and workers remittances.

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