Rupee weakens against dollar
KARACHI: The rupee weakened against the dollar at Rs138.76/Rs139.04 in the inter-bank market on Tuesday compared with Monday’s close of Rs138.71/Rs138.99, according to the State Bank of Pakistan (SBP). Earlier in November, the rupee fell to an all-time low at Rs144 against the dollar in intra-day trading before recovering to 139.05 in the sixth round of devaluation since December 2017. Cumulatively, the rupee has lost 31.8% of its value in the last 12 months. In October, a slump in the value of the rupee came after the government decided to knock at the International Monetary Fund’s (IMF) door to avoid default on import payments and debt repayments.
Published in The Express Tribune, December 12th, 2018.
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Last month, the rupee strengthened after Saudi Arabia agreed on a $6-billion assistance package for Pakistan
Currency: Rupee stable against dollarPrior to this, it had lost 22% of value since December 2017
Rupee stable against dollarSBP has maintained that the slide in the rupee’s value is due to supply and demand dynamics of foreign exchange
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Original news : https://tribune.com.pk/story/1864809/2-rupee-weakens-dollar-28/