Rupee depreciates by 60 paisas against dollar

Rupee depreciates by 60 paisas against dollar

KARACHI:  The Pak Rupee depreciated by 60 paisas against the dollar on Monday as demand for import and corporate payments was remained high.

The rupee closed at Rs158.22 to the dollar from last Friday’s closing of Rs157.62 in the interbank foreign exchange market.

The currency experts said that the demand for foreign payments was higher because the market was opened after two weekly holidays.

The currency dealers hoped that after June 30 the local currency would regain value against the dollar owing to inflows of foreign remittances and export receipts.

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