Rupee weakens against dollar | The Express Tribune



ISLAMABAD:

The rupee weakened against the US dollar at Rs160.52 in the inter-bank market on Monday compared with Friday’s close of Rs160.33, according to the State Bank of Pakistan (SBP). Earlier, the SBP let the rupee depreciate massively in the inter-bank market after finalisation of an agreement with the International Monetary Fund (IMF) for a loan programme on May 12, 2019. The IMF has asked Pakistan to end state control of the rupee and let the currency move freely to find its equilibrium against the US dollar and other major world currencies.

Published in The Express Tribune, January 19th, 2021.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.





Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Translate »