Pakistani Rupee may stabilise further against US dollar in the open market

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Pakistani Rupee may stabilise further against US dollar in the open market

ISLAMABAD - Pakistani Rupee may stabilise further against US dollar in the open market.

The rupee lost its value during the outgoing week amid soft dollar supplies, but dealers believe that the local currency could largely stay stable in the coming week, *The News link on Sunday.

The rupee closed at 154.90 against the greenback in the interbank market on Monday (Dec 23), compared with the previous closing of 154.89.

The rupee’s value remained the same the next day, with the currency closing at 154.89.

The currency market was closed on Wednesday due to the Quaid-e-Azam Day and Christmas. On Thursday, the local unit came under renewed pressure due to of higher import payments. The rupee closed at 155.07 against the greenback. On Friday, the local currency remained flat at 155.03 to the dollar.

In the open market, the rupee traded in the ranges of 154.90 and 155.20 against the dollar in the outgoing week.