The US dollar is now selling for Rs155 in the open market but experts say it would be staying in this range. It has increased by Rs1.40 over the last week. BMA Capital’s Head of Research Faizan Ahmed says that current account balance figures are favorable and so are foreign exchange reserves. “I don’t see any reason for dollar rate to increase significantly,” he told SAMAA Digital. Increased imports of food items such as wheat and machinery have put the rupee under pressure, according to Ahmed. He, however, said the rupee does depreciate against a basket of currencies annually and he sees the dollar rate going up to Rs158 by the end of 2021. “On a short-term basis, I see d
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