Rupee falls by 10 paisas on expected rising dollar demand for oil payment

KARACHI: The Pak Rupee lost 10 paisas on Tuesday owing to rise in international oil prices after recent attack on Saudi oil facilities.

The rupee ended Rs156.33 to the dollar from previous day’s closing of Rs156.23 in interbank foreign exchange market.

Currency experts said that the rupee depreciated after the fears of rising demand for dollar for oil import payment. The international oil prices increased owing to recent attack on oil facilities in Saudi Arabia.

The foreign currency market was opened in the range of Rs156.35 and Rs156.45. The market recorded day high of Rs156.50 and low of Rs156.30 and closed at Rs156.33.

The exchange rate in open market witnessed stable rupee value. The buying and selling of dollar was recorded at Rs155.80/Rs156.30, the same previous day’s level in cash ready market.

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