KARACHI, July 29: Short-term money rates ended flat on Tuesday as dealers said they were waiting for the central bank to announce the monetary policy later in the day.

Overnight call rates ended at 11.5 per cent, unchanged from

Monday’s closing.

In the currency market, dealers said the rupee ended at

71.45/50 to the dollar, weakening from Monday’s close of 71.20/25.

“There were some import payments which put pressure on the rupee,” said a currency dealer.

Dealers expect the rupee to remain stable in the short term but are uncertain about the medium to long term.

There has been pressure on the rupee because of increased dollar demand from importers in recent months.—Reuters