Rupee depreciates by 31 paisas against dollar

Rupee depreciates by 31 paisas against dollar

KARACHI: The Pak Rupee ended down by 31 paisas against the dollar on Monday owing to demand of the foreign currency on the first day of the week.

The rupee ended at Rs158.18 to the dollar from last Friday’s closing of Rs157.87 in the interbank foreign exchange market.

Currency experts said that the demand for the foreign currency was high as the market was opened after two weekly holidays.

They hoped that the local currency would make gain in coming days on back of substantial inflows of remittances and export receipts.