Business News

Pakistan Rupee

Rupee slips by 54 paisas on import, corporate payment demand

KARACHI: The Pak Rupee slipped by 54 paisas on Thursday owing to high demand for import and corporate payments.

The rupee ended Rs153.30 to the dollar from previous day’s closing of Rs152.76 in the interbank foreign exchange market.

Currency dealers said market witnessed high demand of the foreign currency for import and corporate payments during the day. They said that due to quarter ending corporate sector was seen buying the foreign currency to send profit and dividends to their parent companies abroad.

They, however, said that the encouraging inflows of remittances and export receipts would help the rupee to make gain in coming days.