Rupee likely to remain range-bound : vimarsana.com

Rupee likely to remain range-bound


Business
December 27, 2020
KARACHI: Rupee traded range-bound during the week as demand for hard currency remained mostly subdued among importers on account of year end getting closer, traders said.
The rupee would expectedly hover between 159.80 and 160.30 against the dollar in the interbank market next week, they said.
“Importers and the corporate sector usually are reluctant to take fresh positions during the last week of the year, curbing the appetite for the greenback. If any demand emerges, it is likely to be outstripped by inflows available in the market,” said a foreign exchange trader at a commercial bank. The rupee rose 48 paisas to close at 160.32 versus the greenback during the four sessions of outgoing week.

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