ISLAMABAD – Pakistani Rupee rises against the US dollar in the interbankand open market.
The Pakistani rupee made gains in the outgoing week due to steady importpayments, improving economic indicators and positive sentiment.
The Rupee rose 10 paisas against the dollar in the interbank market. OnMonday, the currency closed at 155 against the greenback, compared to lastclosing of 154.96.
The rupee was range-bound, trading in the band of 154.90 and 154.94 in theremaining four sessions.
In the open market, the local currency lost 30 paisas to close at 155 tothe dollar in the outgoing week.
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Currency dealers said the rupee is likely to stay range-bound in the comingweek because of strong foreign exchange reserves positions, healthy foreigninflows and improvement in the balance of payments.
The completion of first review of the country’s economic performance by theInternational Monetary Fund (IMF) also boosted the market sentiment.
