Rupee falls 84 paisas to dollar in early trade

Rupee falls 84 paisas to dollar in early trade

KARACHI: The Pak Rupee (PKR) continued to slide against the dollar in early trade on Tuesday and lost 84 paisa to the foreign currency so far.

The dollar is being traded at Rs171.35 in the interbank foreign exchange market. The last day closing of the rupee was Rs170.51 to the dollar in the interbank foreign exchange market.

Currency experts said that the market witnessed higher dollar demand for import payments.

The local currency recorded the all-time low of Rs175.27 against the dollar on October 26, 2021. However, following the announcement of the Saudi government to support a financial assistance package to Pakistan the rupee had made a sharp gain.

The experts said that the large imports are major concerns for rupee stability in the coming days. The import bill registered a growth of 65.15 per cent to $25.06 billion during July – October 2021 as compared with $15.17 billion in the same period of the last fiscal year.

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