- October 16, 2022
- Posted by: Stratford Team
- Category: Economy
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A foreign currency dealer counts US dollars at a shop in Karachi on May 19, 2022. — AFP/File
- Rupee expected to remain range-bound in coming week.
- Market to keep an eye on assistance from multilateral lenders.
- Dollar demand expected to stay robust as import backlog has been cleared, says currency dealer.
KARACHI: The Pakistani rupee is expected to trade range-bound in the coming week, depending on the demand for greenback by importers as the State Bank of Pakistan (SBP) has started to clear pending letters of credit.
The market will also keep an eye on any assistance from multilateral lenders in the form of finance pledges following the cataclysmic floods in Pakistan, The News reported.
The local currency broke its winning streak against the dollar and depreciated by 0.21% during the outgoing week in line with the increasing demand for the greenback from importers.
However, the dollar supplies also reduced due to fewer greenback…
