unday, September 30, 2007By Hina Mahgul RindKARACHI: Rupee remained in the positive territory against dollar and continued its positive stance through out the week due to weak demand for the greenback and higher remittances by overseas Pakistanis in Ramazan. Forex analyst said that trend would continue in coming weeks as well and the rupee would remain on the positive side.The week opened with national currency remaining unchanged against dollar in the open market dealings.
The dollar started trading at Rs.60.65 and did not show any change and remained at the same price at close of markets. On the international desks, the dollar fell to a record low against the euro for a seventh straight day as slowing inflation encouraged traders to speculate that the Federal Reserve will cut borrowing costs a second time this year, stated Ayaz Ali Messam, forex analyst at KKI. [Read more]
No comments:
Post a Comment