The rupee is expected to remain range-bound against the dollar following the Eid holidays, as importers and companies are likely to increase demand for the greenback with the resumption of business activities, The News reported Saturday. During the outgoing week, the currency appreciated in the interbank market as Pakistanis who work overseas sent more money home in remittances before Eid. As a result, the value of the rupee increased. The local unit ended at 284.71 per dollar on Monday and finished at 283.47 on Thursday. “The rupee isn’t likely to win big against the dollar after Eid, as business activities will return to normal, and demands from importers and companies for the dollars will increase,” a currency dealer said. Due to Eid ul Fitr, the foreign exchange market will remain closed from April 21-25.
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