PKR: Mild Depreciation Due To Trade Deficit

April 2007 | Currency Forecast

The rupee appreciated sharply in Q107 after hitting a 25-month low of PKR61.01/US$ at the start of January, but it has seen more volatility since the start of March. The unit has bounced off firm support at PKR60.85/US$, and faces trendline resistance at PKR60.70/US$ in the immediate term, but beyond this downside pressures will prevail.

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