Rupee ends flat

The rupee maintained its firmness against the dollar in the interbank market on Friday in the absence of market triggers, currency dealers said.

The rupee closed at 141.39 against the greenback, compared with the previous closing of 141.38 in the interbank market.

In the open market, the rupee also traded flat at 142.50 against the dollar.

Dealers said the rupee continued its range-bound trading, amid normal dollar demand from importers.

The currency maintained the overnight levels in a dull trade due to normal demand from importers, dealers said.

“There was no big activity today… the dollar supplies were sufficient to cater to the market demand,” a dealer said.

Pakistan's foreign exchange reserves continued to decline, amid heavy imports and debt repayments.

Data issued by the central bank showed that the country’s forex reserves fell to $17.228 billion as of week ended April 5 from $17.397 billion in the previous week.

The foreign exchange reserves held by the State Bank of Pakistan stood at $10.271

billion, compared with 10.492 billion a week ago.

However, workers' remittances maintained the upward trend and rose 8.74 percent to $16.096 billion in the nine months of the current fiscal year.