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In response to the State Financial institution of Pakistan (SBP), the rupee closed as soon as once more surpassed the Rs182-mark, closing at Rs182.52 in opposition to the dollar in comparison with Saturday’s shut of Rs181.55.
Learn extra: Rupee holds steady against US dollar
The native forex underwent correction at this time after appreciating over Re1 final week; nevertheless, merchants consider that the rupee will commerce inside a variety of 180-181 in opposition to the US greenback within the ongoing week.
Buyers took a detrimental cue from the widening commerce deficit that rose by 12% to $3.64 billion in March 2022 as in comparison with the identical month of the final fiscal yr.
The rupee has maintained a downward pattern for the final 11 months. It has misplaced 19.86% (or Rs30.25) up to now, in comparison with the document excessive of Rs152.27 recorded in Might 2021.