Rupee falls for 14th day against dollar

KARACHI: The rupee weakened for the 14th consecutive session against the U.S. dollar on Friday, as importers continued to buy the greenback to meet their payment obligations. The rupee closed at 287.03 per dollar in the inter-bank market, down 0.05 percent from its previous close of 286.90 on Wednesday, according to the State Bank of Pakistan. The forex market was closed on Thursday due to a public holiday. In the open market, where the rupee trades more freely, the currency fell 50 paisas to 288 per dollar, dealers said. “The market is facing a shortage of dollar liquidity as exporters are holding back their proceeds, while importers are demanding dollars to make their payments,” said a currency dealer at a…