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Pak Rupee falls by two paisas against US dollar

Pak Rupee falls by two paisas against US dollar

 

KARACHI: The Pak Rupee fell by two paisas against dollar on Tuesday amid demand from importers and corporate buyers.

The rupee ended Rs158.43 to the dollar from previous day’s closing of Rs158.41 in interbank foreign exchange market.

Currency experts said that the rupee had fallen significantly earlier in the day owing to demand from importers and corporate buyers. However, the sharp decline in international oil prices improved the sentiments.

The experts said that falling international oil prices would help the country to reduce its import bill.

The foreign currency market was initiated in the range between Rs158.65 and Rs159.25. The market recorded day high of Rs159.05 and low of Rs158.40 and closed at Rs154.43.

The exchange rate in open market witnessed decline in rupee value. The buying and selling of dollar was recorded at Rs157.50/Rs158.50 from previous day’s closing of Rs157.00/Rs158.00.