The rupee is expected to face pressure next week due to fiscal-year end dollar demand from importers, but is unlikely to surpass the 280 per dollar level, according to a report from financial terminal Tresmark. Released on Saturday, the report said that the rupee fluctuated within small bands in the interbank market during a holiday-shortened trading week. The local unit ended on Thursday at 278.60 against the dollar, but gained little ground and closed on Friday at 278.51. The markets were closed on Monday, Tuesday, and Wednesday for public holidays on account of Eidul Azha. Even though the week was cut short, three important things happened. The KSE-100 briefly crossed the 80,000 level on Friday. (The News)
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