KARACHI: As the State Bank of Pakistan (SBP) has begun to settle outstanding letters of credit, the Pakistani rupee is anticipated to trade range-bound during the course of the upcoming week, depending on the demand for dollars by importers.Following the devastating floods in Pakistan, the market will also monitor any aid from multilateral lenders in the form of financial pledges, according to The News.
In keeping with the rising demand for the dollar from importers, the local currency ended its winning streak against the dollar and fell by 0.21% during the previous week.However, fewer greenback conversions from exporters also resulted in a decrease in dollar supplies.
