KARACHI: The rupee is expected to be range-bound next coming week, depending on the level of demand for the dollars from importers, amid a strong pickup in the economic activity, traders.
Daily Times
May 27, 2021
Rupee on Thursday fell for the fourth straight session and settled 5 paisa lower to close at 154.84 against American dollar (USD) in an interbank market.
The rupee had closed at PKR 154.78 per USD on Wednesday. The rupee witnessed a mild activity in intraday trade as it was traded in a range of 80 paisa per USD, showing an intraday high bid of 155.30 and an intraday Low offer of 154.55. Within the open market, rupee was traded at 155/156 per USD. In his Twitter handle, Asad Rizvi, former Treasury Head-Chase Manhattan Bank said, “By next week, the impact of long M/Eastern Eid Holidays should be over. Remittances inflow should get back to normal. PKR that lost over 1% of its value is attractive.”
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