Pakistan Rupee

Rupee ends down by 11 paisas on foreign payment demand

Money & Banking

KARACHI: The Pak Rupee ended down by 11 paisas against the dollar on Friday owing to demand of the foreign currency for import and corporate payments.

The rupee ended Rs160.73 to the dollar from the previous day’s closing of Rs160.62 in the interbank foreign exchange market.

Currency dealers said that the demand for the foreign currency remained higher during the day for import and corporate payments.

They said that sentiments remained positive after the government announcement that it would impose strict lockdown after upsurge in coronavirus cases and the industries and commercial activities would remain open. However, the government appealed to the people to wear masks to ensure preventive the spread of the pandemic and avoid a lockdown.

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