Business News

Pakistan Rupee

Rupee loses 17 paisas on dollar demand for import payment

KARACHI: The Pak Rupee lost 17 paisas against the dollar on Friday owing to payment demand related to import and corporate, dealers said.

The rupee ended Rs159.10 to the dollar from previous day’s closing of Rs158.93 in the interbank foreign exchange market.

Currency dealers said that the market witnessed higher demand of the foreign currency due to upcoming two weekly holidays.

They said that due to fall in coronavirus cases the market was remained optimistic and dollar demand for import payment was gradually rising.

They, however, optimistic that the inflows of export receipts and workers’ remittances would help the local unit to gain values in coming days.