Rupee weakens by six paisas against dollar

Rupee weakens by six paisas against dollar

KARACHI: The Pak Rupee fell by six paisas against the dollar on Monday as the market opened after public and weekly holidays and witnessed higher demand for import and corporate payments.

The rupee ended at Rs160.38 to the dollar from last Thursday’s closing of Rs160.32 in the interbank foreign exchange market.

Currency dealers said that the rupee came under pressure during the day as the market opened after three days for public holiday on account of Qauid-e-Azam day and two weekly holidays.

The demand remained higher during the day despite inflows of workers’ remittances and export receipts. However, these inflows were not sufficient to support the local unit.

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