Rupee falls by 34 paisas against dollar

Rupee falls by 34 paisas against dollar

KARACHI: The Pak Rupee fell by 34 paisas against the dollar on Monday owing to demand for import and corporate payments.

The rupee ended Rs153.70 to the dollar from last Friday’s closing of Rs153.36 in the interbank foreign exchange market.

Currency experts said that due to first day of the week the demand for import and corporate payments was high.

They said that the improved GDP growth forecast would escalate the domestic demand for imported raw material and finished products.

The rising demand for import payment would depress the local currency in coming days.

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