Pakistan Rupee
Pakistan rupee weakened by 0.40 percent against the dollar
Islamabad: The Pakistan rupee weakened by 0.40 percent against the dollar on Friday, reflecting the poor show of the country's economy, media reports said.
Dealers told The News International that the rupee weakened due to high demand for the US currency to pay for imports.
In the interbank market, the rupee was quoted closing at 159.94 to the dollar, compared with Thursday’s close of 159.30. It fell by 64 paisas during the session, the newspaper reported.
“Today, the outflows were higher than inflows. The mismatch between demand and supply of dollars added to pressure on the domestic currency,” a currency dealer told the newspaper.
“There had been oil, commodities and machinery and equipment imports,” he added.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
