Pakistan Rupee

Rupee falls by 23 paisas against dollar

Money & Banking

KARACHI: The Pak Rupee fell by 23 paisas against the dollar on Thursday owing to higher foreign currency demand for import and corporate payments.

The rupee closed at Rs155.92 to the dollar from the last day’s closing of Rs155.69 in the interbank foreign exchange market.

Currency experts said that the rupee was under pressure due to higher import and corporate payment demands ahead of budget announcement.

The federal budget is scheduled to be announced on June 11, 2021.

The currency experts hoped that the local currency would rebound in coming days owing to strong inflows of export receipts and workers’ remittances.

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