Rupee falls by 22 paisas against dollar

Rupee falls by 22 paisas against dollar

KARACHI: The Pak Rupee (PKR) fell by 22 paisas against the dollar on Friday as foreign currency demand for import payment remained higher.

The interbank foreign exchange market closed at Rs163.45 to the dollar from the previous day’s closing of Rs163.23.

Currency experts said that dollar demand was higher due to upcoming weekly holidays. They said that importers had purchased dollars in advance in the wake of holidays.

They further said that scheduled payment of external debt also put pressure on the local currency.

The experts said that the rupee may rebound due to expected inflows from the IMF, export receipts and workers remittances.

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