KARACHI: The Pak Rupee further depreciated by seven paisas against dollar on Wednesday owing to higher import and corporate demands, dealers said.
The rupee ended Rs155.08 to the dollar as compared with last day’s closing of Rs155.01 in interbank foreign exchange market.
The rupee depreciated around 18 paisas in three trading days of the current week.
The dealers said that due to quarter ended December 31, 2019 the demand for the greenback was remained higher from import and corporate buyers.
They said that the exchange rates might witnessed and adverse affect of ongoing US-Iran conflict.
The foreign currency market was initiated in the range of Rs155.00 and Rs155.05. The market recorded day high of Rs155.15 and low of Rs155.05 and closed at Rs155.08.
The exchange rate in open market also witnessed depreciation in rupee value. The buying and selling of the dollar was recorded at Rs155.40/Rs155.80 from previous day’s closing of Rs155.00/Rs155.30 in cash ready market.
