Rupee weakens by 26 paisas against dollar

Rupee weakens by 26 paisas against dollar

KARACHI: The rupee weakened by another 26 paisas against the dollar on Monday as demand for import and corporate payment continued.

The rupee ended Rs154.13 to the dollar from last Friday’s closing of Rs153.87 in the interbank foreign exchange market.

The rupee continued its falling streak against the dollar for the sixth consecutive trading days and lost a cumulative Rs1.30 against the dollar since April 16, 2021.

The currency dealers said that demand had been increase from corporate sector because of profit and dividend repatriation after quarter closing.

Further, the acceleration in economy also increased demand for imported raw and finished goods.

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