Rupee ends down by 15 paisas on high import payment demand

Rupee ends down by 15 paisas on high import payment demand

KARACHI: The Pak Rupee ended down by 15 paisas against the dollar on Tuesday owing to higher demand for import and corporate payments.

The rupee ended Rs160.47 to the dollar from previous day’s closing of Rs160.32 in the interbank foreign exchange market.

Currency dealers said that the demand for import and corporate payments were higher during the day. They said rising demand of the foreign currency from corporate side normally seen on the higher side in the month of December due to closing of the quarter.

They said that the market also witnessed supply of the dollar in the shape of export receipts and workers remittances. However, such inflows were not sufficient to support the rupee.