Rupee falls by two paisas on higher import

Rupee falls by two paisas on higher import

KARACHI: The Pak Rupee ended down by two paisas against dollar on Friday owing to payment demand from importers and corporate buyers.

The rupee ended Rs154.90 to the dollar from previous day’s closing of Rs154.88 in interbank foreign exchange market.

Currency dealers said that the demand for the greenback was higher during the day for import and corporate payment.

However, the inflows helped the rupee for further depreciation.

The foreign currency market was initiated in the range of Rs154.90 and Rs154.95. The market recorded day high of Rs154.95 and low of Rs154.89 and closed at Rs154.90.

The exchange rate in open market witnessed slight change in rupee value. The buying and selling of the dollar was recorded at Rs154.80/Rs155.10 from previous day’s closing of Rs154.70 and Rs155.00.

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