Rupee to stay steady against US dollar next week: analysts
The Pakistani rupee is expected to stay steady in the coming week.
- “We see rupee stable in the days ahead, despite rising economic uncertainty,” says analyst.
- Markets seeing sharp exodus of foreign currency from equity markets ($80 million in the first 17 days of September).
- Central bank’s dollar selling interventions helped arrest rupee’s plunge.
KARACHI: Pakistani rupee is expected to stay steady against the greenback during the next week, said analysts as per a report published in The News.
Analysts said the local unit is expected to trade within the existing range next week amid matching the dollar demand and supply, while the central bank’s monetary stance will also factor in.
The local currency saw highly volatile moves this week, and hit an all-time low of 169.12 on Wednesday. The central bank’s dollar selling interventions helped arrest the rupee’s plunge, allowing the local unit to recover.
The verbal…
