Rupee weakens by six paisas against dollar

Rupee weakens by six paisas against dollar

KARACHI: The Pak Rupee weakened by six paisas against dollar on Tuesday owing to demand for import and corporate payments.

The rupee ended Rs152.99 to the dollar from previous day’s closing of Rs152.93 in the interbank foreign exchange market.

Currency dealers said that the market witnessed demand from corporate buyers as foreign companies were sending their profit and dividends to their parent companies abroad.

Further, seasonal demand for import payments is also seen during the day.

The dealers said that the local currency likely to make gain against the dollar in coming days due to substantial inflows of foreign currency in shape of export receipts and workers’ remittances.

Leave a Reply

Your email address will not be published. Required fields are marked *