Rupee likely to struggle against US dollar next week, say analysts

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A representational image. Photo: File
  • 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…

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