Rupee weakens by three paisas on import payment demand

Rupee weakens by three paisas on import payment demand

KARACHI: The Pak Rupee ended down by three paisas against the dollar on Thursday owing to demand for import and corporate payments.

The rupee ended Rs157.16 to the dollar from previous day’s closing of Rs157.13 in the interbank foreign exchange market.

The rupee fell on Thursday after maintaining eight-day streak of appreciation against the foreign currency.

The exchange rate was at Rs159.10 on February 19, 2021. However, the local currency recovered Rs1.97 against the greenback in the interbank foreign exchange market till March 03, 2021.

The currency experts said that the growth in export receipts and inflows of workers remittance helped the rupee to make gains.

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