Rupee depreciates by six paisas in interbank

Rupee depreciates by six paisas in interbank

KARACHI: The Pak Rupee ended down by six paisas against the dollar on Thursday due to demand for import and corporate payments.

The rupee closed at Rs154.84 to the dollar from previous day’s closing of Rs154.78 in the interbank foreign exchange market.

Currency experts said that the due to improved GDP growth forecast the domestic demand had increased for imported good.

They also attributed the higher demand of the foreign currency to the government decision for not imposing strict lockdown and using alternate ways to prevent coronavirus pandemic.

The experts said that the improved inflows of export receipts and remittances would help the rupee to gain values in coming days.

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