KARACHI: The Pak Rupee weakened by 45 paisas against the dollar on Monday owing to demand for import and corporate payments.
The rupee ended Rs159.27 to the dollar from last Friday’s closing of Rs158.82 in the interbank foreign exchange markets.
Currency experts said that high dollar demand was seen during the as market was opened after two-day weekly holidays.
The latest gain in dollar value has also stopped the rupee’s six consecutive gaining trading days.
The Pak Rupee appreciated for six consecutive trading days against the dollar on last Friday owing to improved inflows of export receipts and workers’ remittances.
The rupee gained 25 paisas to end at Rs158.82 to the dollar from previous day’s closing of Rs159.07 in the interbank foreign exchange market.
The appreciation in the rupee value has been continued for the last six consecutive days. The rupee gained around Rs1.36 against the dollar after closing at Rs160.18 on February 03, 2021.
Currency experts said that improved inflows of export receipts and workers’ remittances helped the rupee to make gain against the foreign currency.
Pakistan’s exports have crossed over $2 billion for the fourth consecutive months in January 2021 for the first time in last eight years, a official statement said.
