Rupee likely to appreciate

The rupee steadied during the outgoing week, but likely to show strength against the dollar next week, analysts said on Saturday.
The rupee was traded in the range of 101.74 and 101.75 against the greenback in the interbank market in the outgoing week.
Analysts foresee the rupee-dollar parity to move in the range of 101.60 and 101.70 on the expectations of more foreign inflows in the market in case the executive board of the International Monetary Fund (IMF) approves seventh tranche worth over $500 million under the Extended Fund Facility to support Pakistan’s economic reform programme.