Rupee eases by seven paisas as dollar demand persists

KARACHI: The Pak Rupee eased by seven paisas against dollar on Wednesday owing to rising demand for the foreign currency for import payment.

The rupee ended Rs166.34 to the dollar from previous day’s closing of Rs166.27 in interbank foreign exchange market.

Currency experts said that the rupee was remained under pressure for rising demand of the greenback against import payment.

They said that normalization of industrial activities after control of coronavirus pandemic the manufacturing required imported raw materials.

The experts hoped that the rupee may rebound in coming days on back of improved workers’ remittances and export receipts.

The local currency fell by 37 paisas against the dollar during past three trading days.

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