Overview
- The rupee closed at 88.73 against the US dollar on Friday, down three paise from Thursday’s 88.70 after an intraday low of 88.75.
- The dollar index edged up to about 99.27 while Brent crude climbed roughly 1.6% to near $64 a barrel, pressuring the local unit.
- A rebound in domestic equities following the Bihar election outcome provided support at lower levels, traders said.
- Recent sessions featured steady dollar demand from importers and foreign investor equity outflows, which added to currency weakness.
- Pakistan’s open market quoted the US dollar at Rs281.4 for buying and Rs281.9 for selling on November 14, reflecting stable retail rates.