Currency Exchange Rates: Rupee weakens

Currency Exchange Rates: Rupee weakens
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Summary Dollars purchase price in the open market was Rs 85.71 whereas its sale price was Rs 86.20.

Pound sterling was sold for Rs 139.59, Euro Rs 122.58, Saudi Riyal Rs 22.96 and UAE dirham Rs 23.40. In the currency market, the rupee weakened to 85.71 to the dollar, from Wednesdays close of 85.59, due to increased dollar demand for import payments.The rupee hit a record low of 86.50 last month, but dealers said the local unit is expected to stay largely stable in the coming days because of increased remittances from Pakistanis working abroad.

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