Rupee falls by 44 paisas on import payment demand

Rupee falls by 44 paisas on import payment demand

KARACHI: The Pak Rupee fell by 44 paisas against dollar on Thursday owing to demand for import and corporate payments, dealers said.

The rupee ended Rs166.04 to the dollar from previous day’s closing of Rs165.60 in interbank foreign exchange market.

Currency experts said that higher demand for import and corporate payments depreciated the rupee value.

They said that the economic activities had been normalized after lifting the lockdown. The domestic industry requires imported raw material, they added.

They, however, said that the rupee may recover in coming days owing to improved indicators especially surplus current account and narrowed trade deficit.

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