Rupee flat

The rupee closed flat against the dollar on Wednesday, with traders remained concerned, despite the deferment of the US motion to put Pakistan’s name on terror financing watchlist.

The rupee closed at 110.57 against the dollar, unchanged from the previous closing.

Dealers said the rupee was little volatile in the day and traded in the range of 110.52/110.58, as importers bought dollars to cover their payments.

The United States has failed in its effort to place Pakistan on the global terror financing watchlist, as member states could not reach consensus during a Financial Action Task Force (FATF) conference in Paris.

The final decision of the FATF pertaining to Pakistan will be issued in June. In the open market, the rupee traded steady at 111.50/111.75 for buying and selling against the dollar. 