Rupee firm

The rupee maintained its overnight levels against the dollar on Tuesday on insignificant demand, dealers said.

The rupee showed no change and traded flat at 115.61/dollar in the interbank market.

Dealers said no major development was witnessed during the day. However, investors welcomed the formation of a six-member federal caretaker government.

The rupee slightly weakened against the dollar on the buying counter in the open market. It closed at 118.40 for buying. However, the local unit ended unchanged at 118.80 for selling against the greenback.

Traders expect the rupee to gain next week due to expected increase in workers’ remittances ahead of Eid-ul-Fitr.