Rupee hits 5-month low against dollar

KARACHI: The rupee weakened 41 paisas to touch a five-month low of Rs159.33 against the dollar on Thursday, owing to the demand for oil imports and other commodities payments, dealers said.

The exchange rate ended at Rs158.92 on Wednesday in the interbank foreign exchange market. The rupee was last seen at the same level on February 9, 2021.

The currency dealers said the market had witnessed higher demand for the US currency for the import of oil and commodity payments.

The dealers said the market had also seen inflows of export receipts and workers’ remittances but those were not sufficient to meet the payment demand.

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