Rupee stable

The rupee closed nearly flat on Friday in a lethargic trade, currency dealers said. The rupee ended at 115.60 to the dollar as compared to the previous closing of 115.59 in the interbank foreign exchange market.

Dealers said the local unit traded in a narrow-range due to insignificant dollar demand.

Meanwhile, the State Bank of Pakistan’s second quarterly report published on the same day was also cautionary on the growing imbalances in the external sector.

“The real sector of the economy was performing well, the external account presented challenges.” the SBP said in the report. In the open market, the rupee remained flat, owing to smooth supply of the greenback. It was quoted at 116.40/116.70 for buying and selling against the dollar.