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