Rupee ends weaker

KARACHI: The rupee ended slightly weaker against the dollar in the interbank market on Friday, dealers said.

The rupee closed at 153.36/dollar, 0.07 percent down from Thursday’s closing of 153.46.

The rupee ended at 153.30 against the dollar in the open market. It had finished at 153.40 in the previous session. Dealers said the local currency continued to lose grounds due to the dollar buying from importers and the companies, seeking to settle their bills. “The rupee weakened throughout this week, amid increased import payments. However, the rising coronavirus cases in the country also dented sentiment,” a foreign exchange dealer said.

“Apart from the importer, demand, inflows position, traders will also monitor the central bank’s interest rate decision, which is scheduled for May 28 for the future direction of the rupee,” he added.