Pakistan’s rupee registered a marginal loss against the US dollar in the inter-bank market, and depreciated nearly 0.04% in the opening hours of trading on Friday.
At around 10:10am, the rupee was being quoted at 218.48, a depreciation of Re0.10 or 0.04% against the greenback, during intra-day trading.
On Thursday, the rupee dipped against the US dollar, and closed at 218.38 after registering a marginal decline of Re0.50 or 0.23% in the inter-bank market.
After recovering throughout the ongoing month, on the back of a shift in sentiment after Ishaq Dar’s appointment as finance minister and actions taken by the central bank against institutions involved in currency speculation, the rupee is showing signs of stability against the US dollar.
Talking to Business Recorder, Shahab Farooq, Director Research at Next Capital said that in the near-term not much pressure is being seen on the local currency.
“Funds are expected to be…
