Rupee holds regular as buyers await MPC announcement

Representational picture of a  man holding the Pakistani foreign money notes — Reuters/File
  • The native foreign money closes the day at Rs168.19 with a meagre lack of 0.01%.
  • MPC will announce the coverage fee for the subsequent two months on Monday.
  • The native foreign money had hit report lows towards the greenback this week.

KARACHI: The rupee steadied towards the US greenback within the inter-bank market on Friday as merchants regarded to the State Financial institution of Pakistan (SBP) for readability on the coverage fee.

The Financial Coverage Committee (MPC) will announce the coverage fee for the subsequent two months on Monday (September 20).

The rupee closed at Rs168.19 with a meagre lack of 0.01% towards the buck in comparison with a detailed of Rs168.18 on Thursday.

The native foreign money had hit report lows towards the greenback this week and lots of analysts have been anticipating the greenback to the touch Rs170 this week.

Nonetheless, the rupee didn’t permit the US foreign money a free experience because it managed to get well some early losses versus the greenback on Thursday.

The rupee managed to recoup a few of the misplaced floor following suspected greenback promoting by the central financial institution, which not solely supported provides but in addition offered a sentiment increase. 

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button