Rupee eases by three paisas on dollar demand

KARACHI: The Pak Rupee eased by three paisas against dollar on Wednesday owing to rise in demand for import payments.

The rupee ended at Rs157.29 to the dollar from previous day’s closing of Rs157.26 in interbank foreign exchange market.

Currency experts said that the dollar demand was remained higher during the day. However, the local unit managed the early day losses.

The foreign currency market was initiated in the range of Rs159.40 and Rs157.48. The market recorded day high of Rs157.60 and low of Rs157.28 and close at Rs157.29.

The exchange rate in open market also witnessed depreciation in rupee value. The buying and selling of dollar was recorded at Rs157.10/Rs157.60 from previous day’s closing of Rs157.00/Rs157.50 in cash ready market.

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