KARACHI, July 16: The rupee ended one per cent weaker on Wednesday due to lack of positive sentiment and worries about portfolio outflows from the stock market along with import payments, dealers said.

The rupee was quoted at 71.05/15 to the dollar by the close, compared with Tuesday’s close at 70.30/50. Dealers said few trades were struck at Rs71.15 to the dollar.

The currency is 15.3 per cent lower than it started the year against the dollar.

“Besides import payments and portfolio outflows, it’s really the positive sentiment and confidence that is lacking,” said a currency dealer.—Reuters