Currency: Rupee eases amid demand for dollar

KARACHI: The rupee declined further on Thursday to close at 86.05 against the dollar due to a high demand for the greenback from importers. It had closed at 85.92/98 a day earlier. The local currency has lost more than 1.5 per cent of its value since it hit a record low of 86.5 last week. Dealers said the unit is likely to remain range-bound this week despite the budget as people are likely to adopt the wait-and-watch attitude.

Published in The Express Tribune, June 3^rd, 2011.