Rupee may face pressure

The rupee is likely to face some downward pressure next week due to sustained dollar demand from importers to meet the month-end commitments, analysts said.“The rupee is expected to trade in the range of 104.75 and 104.85 against the dollar in the interbank market,” an analyst said.

The local unit suffered minor losses against the greenback, amid balance between demand and supply of the US currency in the week ended Friday. It was traded in the range of 104.77 and 104.81 during the week. The local currency remained range-bound and an all-time high level of forex reserves failed to boost trader’s sentiments.