Rupee further weakens against dollar


KARACHI: The rupee further extended losses against dollar on Friday amid large demands for import and corporate payments.



The rupee declined by 14 paisas to close at Rs138.89 against dollar from previous day’s close of Rs138.75 in interbank foreign exchange market.

The interbank foreign exchange market was initiated in the range of Rs138.70 and Rs138.90.

The market recorded day high of Rs138.90 and low of Rs138.89 and closed at Rs138.89.

The rupee also witnessed depreciation in its values in open market.

Malik Bostan, President, Forex Association of Pakistan (FAP) said that buying and selling of dollar recorded at Rs139.20/Rs139.70 from previous day’s close of Rs139.00/Rs139.50.

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