Rupee falls by 21 paisas against dollar

KARACHI: The Pak Rupee fell 21 paisas against dollar on Thursday due to higher demand for import and corporate payments.

The rupee ended at Rs160.03 to the dollar from previous day’s closing of Rs159.82 in interbank foreign exchange market.

The foreign currency market was initiated in the range of Rs159.95 and Rs160.05. The market recorded day high of Rs160.10 and low of Rs159.95 and closed at Rs160.03 to the dollar.

Currency experts said that the local unit was under pressure due to scheduled repayment for foreign debt and payments for import and corporate.

The exchange rate in open market also witnessed deterioration in rupee value. The buying and selling of dollar recorded at Rs159.80/Rs160.30 from previous day’s closing of Rs159.30/Rs160.30 in cash ready market.

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