US dollar increases against Rupee

Karachi: In the open market, the rupee closed lower at 159.50 against the dollar, compared with 159.20 in the previous session. The buying rate of the US dollar was Rs159.2, while its selling rate was Rs160 on Tuesday,

 

Earlier, on Monday the rupee fell, breaking a five-session winning streak, as a sudden increase in importers’ dollar demand weighed down the domestic currency, dealers said.

Dealers said the Rupee gave up gains, again coming to 159 levels, amid increased demand for the greenback for import payments.

A currency dealer said that there is a reversal in the rupee’s direction. We saw importers come to the market to buy dollars to settle their payments.

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