Rupee weakens 17 paisas against dollar

Web DeskWeb Editor

15th Jul, 2021. 04:06 pm
Rupee hits 5-month low against dollar

KARACHI: The rupee weakened 17 paisas against the dollar on Thursday, as international oil prices made gains a day ago.

The exchange rate ended at Rs159.30 against the greenback, compared with the previous day’s closing of Rs159.13 in the interbank foreign exchange market.

The currency dealers said the rise in the international oil prices on Wednesday increased the dollar demand for import payments. They said the oil prices; however, registered a slight decline during today’s trading in the international market.

Pakistan is a net importer of petroleum products and fluctuation in prices affects the value of the local currency.

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