The US dollar’s purchasing rate was Rs160.6, while its selling rate was Rs161.3.
On Friday, for the third consecutive day, the rupee further weakened amid higher demand for dollars for import payments.
Dealers said the local unit traded marginally weaker, as the demand of importers exceeded remittance and export sale inflows.
KARACHI: The US dollar’s buying rate was Rs160.6, while on Saturday, January 23, its selling rate was Rs161.3.
On Friday, amid higher demand for dollars for import payments, the rupee further weakened for the third consecutive session, dealers said.
On the back of increased greenback demand for import payments, in particular oil and LNG, we expect the rupee to face downward pressure over the coming week,” a foreign exchange dealer said.”
In the sessions ahead, the rupee may hit the 161 level against the dollar.
Meanwhile, the prices of the US Dollar, the Saudi Riyal, the UK Pound, the Dirham of the UAE, and other free market foreign currencies were as follows.
The details were obtained from the Pakistan Forex Association.
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