Rupee weakens by 47 paisas against dollar

Rupee weakens by 47 paisas against dollar

KARACHI: The Pak Rupee ended down by 47 paisas against the dollar on Tuesday owing to year end demand for corporate and import payments.

The rupee ended Rs155.78 to the dollar from previous day’s closing of Rs155.31 in the interbank foreign exchange market.

Currency dealers said that the market witnessed higher demand for dollar as corporate sector and importers were seen busy in buying the foreign currency for their payments.

The dealers said that due to fiscal year 2020/2021 is ending June 30, 2021 the demand of the foreign currency usually high as corporate entities repatriate profit and dividends.

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