Rupee slides to Rs165.90 against USD


Staff Reporter


The Pak Rupee declined by 75 paisas by Rs165.90 to the dollar on Wednesday owing to higher demand of the foreign currency for import and corporate payments. The rupee ended at Rs165.90 to dollar against Rs164.88 in interbank foreign exchange market. Currency dealers said that the market witnessed demand for the foreign currency from importers and corporate buyers. They said that the market was also under pressure due to fall in foreign exchange reserves due repayment of external loans.