Rupee falls by 8 paisas on import demand

Rupee falls by 8 paisas on import demand

KARACHI: The Pak Rupee depreciated by eight paisas against dollar on Thursday owing to higher demand for import payments as market opened after a public holiday.

The rupee ended Rs154.49 to the dollar from the closing of February 04, 2020 at Rs154.41 in interbank foreign exchange market.

Currency dealers said that the demand was higher during the day as the market was remained closed on February 05, 2020 on account of Kashmir Day.

The foreign currency market was initiated in the range of Rs154.48 and Rs154.50. The market recorded day high of Rs154.50 and low of Rs154.36 and closed at Rs154.49.

The exchange rate in open market witnessed stable rupee value. The buying and selling of the dollar was recorded at Rs154.30/Rs154.60, the same closing level in February 04, 2020, in cash ready market.

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