Rupee slips by 52 paisas in interbank

Rupee slips by 52 paisas in interbank

KARACHI: The Pak Rupee fell by 52 paisas against dollar on Friday owing to high demand for the foreign currency as market was opened after week-long holidays.

The rupee ended Rs158.96 to the dollar from last Friday’s close of Rs158.44 in interbank foreign exchange market.

Currency experts said that the local currency was under pressure due to week-long holidays including weekly holidays and for Eid holidays.

The market was initiated in the range of Rs158.80 and Rs159.00. The market recorded day high of Rs159.00 and low of Rs158.95 and closed at Rs158.96.

The exchange rate also witnessed decline in the rupee value. The buying and selling of dollar was recorded at Rs159.00/Rs159.50 from last Friday’s closing of Rs158.30/Rs159.30 in cash ready market.

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