Rupee edges down against dollar

KARACHI: The rupee lost 15 paisas against the US dollar on Friday, owing to the weekend demand for import and corporate payments, dealers said.

The exchange rate closed at Rs156.89 against the dollar from the previous day’s closing of Rs156.74 in the interbank foreign exchange market. Dealers said the demand for the greenback remained high on the last trading day of the week.

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The local currency remained under pressure during June due to higher import payments and repatriation of profits and dividends by foreign companies operating in Pakistan, they said.

Meanwhile, the local currency had depreciated Rs2.49 against the dollar during June 2021.

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