Rupee ends lower

KARACHI: The rupee snapped a 13-day winning streak on Tuesday, slipping slightly against the dollar as importers bought the greenback to meet their payments after a bank holiday. The rupee closed at 281.89 per dollar in the interbank market, down 0.01 percent from its previous close of 281.86. In the open market, it fell 0.01 percent to 282.53 per dollar, data from the Forex Association of Pakistan showed. “The foreign exchange markets opened following a one-day holiday, so importers purchased dollars to meet their demands, which caused the rupee to weaken slightly,” said a currency dealer. “The dollar sales from exporters did not bring in enough inflows to meet that requirement.” The financial markets were closed on Monday on account…

Source: The News International
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