Pakistan Rupee

Rupee ends down by 62 paisas against dollar

Money & Banking

KARACHI: The Pak Rupee depreciated by 62 paisas against the dollar on Monday due to higher demand for import and corporate payments.

The rupee ended at Rs157.51 to the dollar from last Friday’s closing of Rs156.89 in the interbank foreign exchange market.

Currency experts said that due to first day of the week the demand for the foreign currency was high.

The experts hoped that owing the resumption of oil facility to Pakistan by the Saudi Arabia the local currency may recover value.

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