Rupee ends down by five paisas on import, corporate payments

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

The rupee closed at Rs155.29 to the dollar from last Friday’s closing of Rs155.24 in interbank foreign exchange market.

Currency experts said that the market was initiated after two weekly holidays which escalated the demand for the greenback.

The foreign currency market was initiated in the range of Rs155.30 and Rs155.35. The market witnessed day high of Rs155.34 and low of Rs155.29 and closed at Rs155.29.

The exchange rate in open market witnessed appreciation in rupee value. The buying and selling of dollar was recorded at Rs155.20/Rs155.40 from last Friday’s closing of Rs155.40/Rs155.70 in cash ready market.

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