Rupee to test 277 level on dollar inflows, IMF optimism

KARACHI: The rupee is expected to strengthen further and trade below 280 per dollar in the coming weeks, supported by exporters’ sales of the greenback and hopes of a further boost in foreign exchange reserves from external partners, dealers and analysts said on Saturday. Positive sentiments prevailed ahead of the International Monetary Fund’s (IMF) board meeting on Jan. 11, when the global lender is expected to approve the next $700 million tranche from its current loan programme for Pakistan. “In the weeks ahead, we anticipate that the rupee will continue to appreciate somewhat versus the US dollar and trade below the 280 mark,” said a currency dealer. The rupee saw modest advances in the interbank market this week. The rupee…