Rupee recovers early day losses; sheds two paisas

Rupee recovers early day losses; sheds two paisas

KARACHI: The Pak Rupee recovered early day losses against dollar and depreciated by two paisas on Monday. The rupee fell owing to higher demand for import payment.

The rupee ended Rs155.31 to the dollar from last Friday’s closing of Rs155.29 in interbank foreign exchange market.

The rupee depreciated by 20 paisas during early day trading due to higher demand or import and corporate payments.

However, inflows of export receipts and workers remittances helped the rupee to narrow the depreciation.

The foreign currency market was initiated in the range of Rs155.40 and Rs155.55. The market recorded day high of Rs155.49 and low of Rs155.31 and ended at Rs155.31.

The exchange rate in open market also witnessed depreciation in rupee value. The buying and selling of dollar was recorded at Rs155.30/Rs155.60 from last Friday’s closing of Rs155.20/Rs155.40 in cash ready market.

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