ISLAMABAD: The Rupee has depreciated by 50 paisa to a five-week low of 62.19 against the US Dollar on fresh demand from importers and banks in view of sustained foreign capital outflows. The rupee-dollar exchange rates have also affected due to strengthening dollar index.
Rupee resumed lower at 62 per dollar as against preceding week’s level of 61.69 at the Interbank Foreign Exchange ( Forex) market.
The domestic currency hovered in a range of 61.92 and 62.47 per dollar during the week.
Veracity Group CEO Pramit Brahmbhatt said, “In rupee-dollar pair witnessed see-saw trade during the week. The rupee started weak at 62 in view of fall in equity market on the first day of the week and dropped to 62.47.
“But as the week progressed, local and global equities gained momentum which helped the rupee to recover and close at 62.19,” he added.
