Rupee against dollar stable

The value of rupee against dollar in the inter-bank today remained stable, as it closed at Rs81.60.

Forex market dealers said that the rupee against dollar in inter-bank today remained stable, while the dollar during business was also seen traded at Rs81.65. Currency dealers said that the dollar buying pressure from the importers also remained less today.

Analysts said that the rupee could be seen under pressure in the days to come due to Moody’s downgrading of Pakistan’s credit rating. Diminishing foreign exchange reserves, hiking import bills, foreign investors’ disinterest and exports falling short of expectations were weakening the rupee, said the analysts. On the other hand, dollar in the open market traded at Rs84.50