Rupee likely to strengthen

The rupee is likely to gain strength against the dollar over the next week due to improvement in official inflows, currency analysts said.
The rupee traded almost flat in the interbank market this week, but it is likely to gain some ground, as the International Monetary Fund (IMF) is set to release around $501.4 million tranche; following the completion of the sixth review of Pakistan’s economic performance under its extended fund facility arrangement. The rupee increased five paisas against the greenback in the official market during the week ended on March 27. After closing at the rate of 102 on Monday, the rupee-dollar parity ended at 101.95 on Friday.