Rupee witnesses stability on last day of the business week.

KARACHI -- Rupee witnesses stability on the last day of the business week. On Friday US dollar traded at Rs 154.47 against Rupee in the interbank market.

Earlier The rupee strengthened against the dollar in the interbank market on Thursday on healthy supplies and weak demand from importers,

The local currency closed at 154.47 to the dollar, up from Wednesday's closing of 154.56.

In the open market, the rupee closed unchanged at 154.80/dollar.

Dealers said the local unit gained grounds due to increased supplies and insignificant demand for the greenback. 'Inflows of foreign investment, higher remittances, increased foreign exchange reserves and improvement in the balance of payments helped drive the currency up against the dollar,' a dealer said.

Market participants are also optimistic about further contraction in the current account deficit in the coming months; following the...