KARACHI - On the pretext of speculative and panic sentiments prevalent in the capital market, the rupee reached record low level against the US dollar by closing at Rs71 in the inter-bank market on Saturday. The artificial shortage of the US currency and its black-marketing in currency markets has been reported due to the record high exchange rate disparity between the US and national currency. The profit-margin-seekers are purchasing huge amount of dollars affecting from uncertain money market behaviour. Speculations regarding rupee devaluation versus the US dollar continued griped the foreign exchange markets where manipulators have started spreading rumours that the dollar might be touching Rs75 in the coming week. According to money market experts, heavy demand persistently came in the inter bank, hence, making the supply short to meet the requirements. The uneasy availability of dollars overall stood as one of the major reasons for putting extreme pressure on rupee through out the week. However, a slight recovery was seen in the value of rupee towards the weekend when it showed a gain of around 0/40 paisa on an average basis. Owing to frequent demand for annual payments from the corporate sector, the rupee continued to trade under pressure against greenback in the inter bank dealings. On Saturday, starting off new day's trading, the highest price touched by dollar stood at Rs70.14 paisa in inter-bank dealings. However, the dollar reached Rs 70.10 paisa in open market. Forex experts are foreseeing the coming days are more crucial for our economy in general and the current trend of dollar-rupee disparity is likely to be upward in next 10 to 15 days. On the other hand, some expert anticipate the national currency will be able to retain its firm position against dollar in inter-bank market after paying corporate returns which is being paid through official market operations. Experts are of the opinions that given depleting foreign exchange reserves position, foreign capital inflows and supply demand pressures witnessed during last few weeks are urging SBP to take tight monetary stance for the two quarters of current financial year. Syed Nabeel Iqbal, Head of Research & Manager Marketing, KKI Pvt. Ltd., said, most bankers remained of the view that rupee is likely to trade under pressure in the days to come too because of persistently high demand of currency from the buyers. The demand is not expected to cool down to any great extent and it is only going to be the inflow of dollars into the market that could support rupee under the present circumstances. But since any major inflows are not expected except the routine, therefore, we may see rupee having a tough time next week too. The rupee traded under pressure against US dollar this week and ended on a weak note. The national currency started new week at Rs68/60 while it was changing hands at Rs69/60 at close of markets in open market on Saturday. The rising trend in the price of dollar can be termed as 'expected' as usually such a trend is witnessed at the end and start of every fiscal year. Year-end payment requirements from corporate sector as well as individuals put rupee on the back foot in the inter bank as well the open market and hence the national currency kept on losing grounds through out the week. According to an economist, it seems that there isn't any exchange rate settlement mechanism for money market as for the last 5 years it has been operating by some manipulators.