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Wednesday, November 27, 2024

Home Top News Rupee weakens further against dollar

Rupee weakens further against dollar

by News desk
March 13, 2020
in Top News

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Staff Reporter

Karachi

Pak Rupee weakened by another 75 paisas against dollar on Thursday amid global financial crisis have been deepened after World Health Organization (WHO) declared coronavirus as global pandemic. The rupee ended Rs159.15 to the dollar from previous day’s closing of Rs158.43 in interbank foreign exchange market. The local currency fell by Rs4.89 or 3.16 percent against dollar during past four days trading. Chairman Forex Association of Pakistan (FAP) said the outflow of investment from local debt securities was the primary reason for the rupee devaluation.
The foreign currency market was initiated in the range of Rs158.95 and Rs159.10. The market recorded day high of Rs159.25 and low of Rs158.85 and close at Rs159.14. The exchange rate in open market also witnessed devaluation in rupee value.