However, dealers said that they expected the rupee to hold steady in the coming days. The rupee closed at 84.05/10 to the dollar, compared with Friday’s close of 83.95/84.00. Dealers said they expected the rupee to be stable in the shortterm but it could weaken in the medium-term because of pressure from import payments. In the money market, overnight rates ended up on Monday after the State Bank of Pakistan sold Rs65 billion of treasury bills in a four-day repo at 10.97 per cent.
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