Rupee ends down by 33 paisas on extended Eid holidays

Rupee ends down by 33 paisas on extended Eid holidays

KARACHI: The Pak Rupee fell by 33 paisas on Monday owing to higher demand from import and corporate buyers as the market was opened after 10-day Eid holidays.

The rupee ended Rs152.60 to the dollar from previous closing on May 07, 2021 at Rs152.27 in the interbank foreign exchange market.

Currency experts said that the market witnessed demand from importers and corporate buyers for making payments. They said that the demand pressure came on the foreign currency because the market was remained closed for past 10 days due to Eid Holidays.

The experts said that the local currency likely to gain in coming days due to strong inflows of remittances and export receipts.

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