KARACHI: The Pakistani rupee is likely to stay under pressure against thegreenback next week due to higher demand for dollars from oil importers andother goods seeking to meet payment obligations, according to traders.
As per the traders, a persistent decline in the foreign exchange reserves,dried foreign inflows, and soaring trade deficit are weighing on thesentiment for the local unit.
The currency market opened after a week’s long Eidul Fitr holidays onFriday. The rupee lost 94 paisas or 0.50% to close at 186.63 per dollar inthe interbank market.
Read Top Stories
“There is demand from importers wishing to make payments post Eid holidays.They are back to the market,” a trader at one commercial bank said.
