Rupee ends down by 22 paisas on demand for import payments

KARACHI: The Pak Rupee ended down by 22 paisas against the dollar on Monday owing to demand for import and corporate payments.

The rupee ended Rs160.39 to the dollar form last Friday’s closing of Rs160.17 in the interbank foreign exchange market.

Currency experts said that the market opened after two weekly holidays which resulted in pressure on dollar demand.

The said that the market witnessed inflows of export receipts and workers’ remittances during the day. However, inflows were not sufficient to meet the payment demand.

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