Rupee stable

The rupee maintained its firmness against the dollar in the interbank foreign exchange market on Thursday, dealers said.

The rupee closed unchanged at 115.61/dollar. The currency remained stable at 115.61/115.64 due to persistent insignificant dollar demand from importers. The rupee continued to appreciate in the open market because of comfortable dollar supplies.

The local currency closed at 117.50/118 for buying and selling against the dollar. It ended at 118/118.40 in the previous trade. “The open market is stable on account of positive sentiments among people. We expect the currency to increase further in sessions ahead,” said Zafar Paracha, the general secretary of the Forex Association of Pakistan.