- Rupee expected to retreat a bit against US dollar next week.
- Rupee ends on a record low Rs168.02 Friday in the interbank market.
- Pakistani rupee should move within 168-168.40 range,” says one analyst.
The Pakistani rupee is expected to retreat a bit against the US dollar next week, say analysts according to a report in The News, due to imminent import payments.
The rupee ended on a record low Rs168.02 Friday in the interbank market. It hit an all-time low of 168.43 on August 26, 2020. On Monday, the domestic currency closed at 167.23 to the dollar.
“The rupee should move within 168-168.40 range with chances of losing some ground if any big demand for import payments emerges,” one commercial bank trader said.
The rupee may fluctuate a bit as all eyes are on the State Bank of Pakistan (SBP) which will announce a monetary policy on September 20.
“We think most players will be cautious ahead of the…