Rupee eases by three paisas on import payment demand

KARACHI: The Pak Rupee ended down by three paisas against dollar on Tuesday owing to import and corporate payment demand for the foreign currency.

The rupee ended Rs163.84 to the dollar from last day’s closing of Rs163.81 in interbank foreign exchange market.

Currency dealers said that the higher dollar demand for import and corporate demand depreciated the value of the local currency.

They said that higher trade deficit for the month of September 2020 and expected current account deficit for the month also pressured the local unit.

They however hoped that the rupee would make gain during coming days owing to measures taken by the government and substantial inflows in the shape of remittances and export receipts.

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