KARACHI: The Pak Rupee ended down by 19 paisas against dollar on Tuesday amid money policy announcement and higher demand for import and corporate payments.
The rupee ended Rs160.06 to the dollar from previous day’s closing of Rs159.87 in interbank foreign exchange market.
The foreign currency market was initiated in the range of Rs160.25 and Rs160.60. The market recorded day high of Rs160.95 and low of Rs159.90 in interbank foreign exchange market.
Currency experts said that the local currency would remain under pressure due to schedule repayment of foreign debt and payment for imports.
The exchange rate in open market also witnessed depreciation in local currency. The buying and selling of dollar was recorded at Rs160.00/Rs160.50 from previous day’s closing of Rs159.50/Rs160.50 in cash ready market.