Rupee falls by 23 paisas against dollar

Rupee falls by 23 paisas against dollar

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

The rupee ended Rs153.46 to the dollar from previous day’s closing of Rs153.23 in the interbank foreign exchange market.

The currency dealers said that demand for imported goods increased due to rising domestic supplies. Further, the dollar demand was also increased due to corporate payment demand as foreign companies repatriate their profit and dividends after closing of a quarter.

The dealers hoped that the local currency would recover in coming days due to improved remittances and export receipts.

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