Rupee falls by 50 paisas despite IMF first tranche

KARACHI: The Pak Rupee ended down by 50 paisas against dollar on Wednesday despite a tranche of $991.4 million received under IMF loan program.

The rupee closed at Rs157.88 to the dollar from previous day’s closing of Rs157.38 in interbank foreign exchange market.

The foreign currency market was initiated in the range of Rs157.45 and Rs157.65. The market recorded day high of Rs157.95 and low of Rs157.65 and closed at Rs157.88.

The exchange rate in open market also witnessed depreciation in local unit.

The buying and selling of the dollar was recorded at Rs157.50/Rs158.50 from previous day’s closing of Rs156.70/Rs157.70 in cash ready market.

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