KARACHI: The Pak Rupee (PKR) eased by one paisa against the dollar on Friday amid foreign currency demand for import and corporate payments.
The rupee ended Rs178.13 to the dollar from the previous day’s close of Rs178.12 in interbank foreign exchange market.
Currency experts said the market witnessed demand for dollars during the day. However, inflows helped the rupee to avoid major losses.
The experts said that the market was also positive due to recent restrictions imposed by the State Bank of Pakistan (SBP). The SBP December 19, 2021 imposed restriction on purchase of dollars by individuals. According to the new instructions an individual can purchase a maximum of $10,000 in a day and $100,000 in a year with certain documentation.
They said that high import bill and current account deficit were major reasons that put the rupee under pressure in the coming days.
