KARACHI: The Pak Rupee fell by 61 paisas against dollar on Monday owing to fall in foreign exchange reserves of the country.
The rupee ended Rs164.85 to the dollar from last Friday’s closing of Rs164.24 in interbank foreign exchange market.
Currency dealers said that the rupee was under pressure on opening of the market after two days weekly holidays.
The dealers said that the market was also under pressure due to fall in foreign exchange reserves due repayment of external loans.
Pakistan’s foreign exchange reserves have declined by $215 million to $16.705 billion by week ended June 05, 2020.
The foreign exchange reserves of the country were at $16.92 billion by week ended May 29, 2020.
The foreign exchange reserves held by the SBP fell by $266 million to $10.096 billion by week ended June 05, 2020 as compared with $10.362 billion a week ago.
The central bank attributed the decline to the government external debt repayments of $301 million during the week.
