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Pak Rupee depreciates by 10 paisas against US dollar

Pak Rupee depreciates by 10 paisas against US dollar

KARACHI: The Pak Rupee slipped by 10 paisas against dollar on Tuesday owing to higher demand for import and corporate payments.

The rupee ended Rs166.27 to the dollar from previous day’s closing of Rs166.17 in interbank foreign exchange market.

Currency experts said that the local unit was remained under pressure due to higher import and corporate payment.

However, they said that the recent announcement of the federal government to launch Naya Pakistan Certificates with attractive rate of return in both rupee denomination and dollar denomination bills, would help the local currency to gain value in coming days.