KARACHI: The Pak Rupee fell six paisas against dollar on Tuesday owing to demand for import and corporate payments, dealers said.
The rupee ended Rs155.01 to the dollar as compared with Rs154.95 in interbank foreign exchange market.
The dealers said that the rupee was depreciated due to rising demand of dollar for import and corporate payments.
They said that the corporate buyers escalated the demand because of repatriation of profit for the quarter ended December 31, 2019.
The foreign currency market was initiated in the range of Rs155.00 and Rs155.07. The market recorded day high of Rs155.09 and low of R155.00 and closed at Rs155.01.
The exchange rate in open market witnessed stable value of the local currency. The buying and selling of the dollar was recorded at Rs155.00/Rs155.30, the same previous day’s closing, in cash ready market.