KARACHI: The rupee held steady against the dollar in the interbank market on Friday, dealers said.
The rupee closed at 168.19 to the dollar, compared with Thursday’s close of $168.18.
Dealers said the local unit was a little changed during a trade due to matching demand and supply of the greenback in the market.
Traders were also cautious ahead of the monetary policy announcement due on Monday.
“There was a demand from the importers and the inflows were adequate to meet that demand,” said a currency dealer. The market didn’t react to the balance of payments data issued on the same day as it also expected a widened current account deficit in August amid a spike in imports.
Dealers are awaiting the central bank’s decision on the monetary policy that will decide the future the course of the rupee. The rupee had been under pressure, hitting a record low of 169.12 this week. The suspected central bank market interventions (dollar selling and verbal) to arrest a sharp slide kept the rupee stabilise.
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