Rupee Holds Steady Ahead of Pakistan Elections, But Uncertainty Looms
• Rupee expected to remain stable around 280 per dollar until February 8 elections • Exporters selling dollars forward in large volumes primary reason for rupee appreciation recently • IMF approval of $700 million loan tranche helped boost rupee and reserves • Rupee faces uncertainty depending on election outcome • Pakistan secured IMF bailout funds, but navigating election period still a challenge