Staff Reporter
Karachi
The Pak Rupee fell by 17 paisas against dollar on Thursday owing to hope of escalation in economic activity and higher demand for imports. The rupee ended Rs160.22 to the dollar from previous day’s closing of Rs160.05 in interbank foreign exchange market. President Forex Association of Pakistan, Malik Bostan Khan said that positive sentiments were prevailed in the markets on reports of ease in lockdown. He said that the announcement of allowing import of petroleum products also deteriorated the rupee value. However, the trade deficit shrank by 25.68 percent to $19.49 billion during July – April 2019/2020 as compared with the deficit of $26.23 billion in the same period of the last fiscal year. The data shows in first ten months (July – April) 2019/2020 also fell by four percent to $18.41 billion as compared with $19.16 billion in the corresponding period of the last fiscal year.
