KARACHI: The Pak Rupee fell by nine paisas against the dollar on Wednesday owing to rising prices of international oil.
The rupee ended Rs157.13 to the dollar from previous day’s closing of Rs157.04 in the interbank foreign exchange market.
Currency dealers said that the market sentiments were dampened owing to rise in international oil prices. Pakistan is a major buyer for oil from international markets and any rise in prices would escalate demand for the foreign currency.
They however, said that the market was remained optimistic and hopes of inflows in shape of workers’ remittances and export receipts the rupee likely to make more gain in coming days.
