rupee

KARACHI: Pakistani rupee depreciated by 25 paisas (-0.16 percent) against the US dollar in the interbank on Friday, making it the second day in a row to lose value against the international currency.
According to the State Bank of Pakistan, the US dollar opened at Rs153.30 and closed at Rs153.55.
The rupee gained Rs1.04 against the greenback during this week, while it has gained Rs5.20 against the dollar since February 19.
The currency dealers said that higher demand of the foreign currency for import and corporate payments depreciated the rupee value. They said that due to quarter ending corporate buyers were seen active in purchasing the foreign currency for repatriation of profit and dividend to their parent companies abroad. Similarly, the higher import bill in March 2021 also put pressure on demand for the dollar. – TLTP