Rupee stable against dollar   

Published: January 12, 2018
SHARES
Email
The rupee remained stable against the dollar at Rs110.2/110.4 in the inter-bank market on Thursday. PHOTO: REUTERS

The rupee remained stable against the dollar at Rs110.2/110.4 in the inter-bank market on Thursday. PHOTO: REUTERS

KARACHI: The rupee remained stable against the dollar at Rs110.2/110.4 in the inter-bank market on Thursday compared with Wednesday’s close of Rs110.2/110.4. In the last few weeks, the rupee has cumulatively shed over 4% of its value after the central bank reportedly abstained from intervening in response to the pressure being built due to a widening current account deficit. The State Bank of Pakistan has maintained that the slide in the rupee’s value is due to supply and demand dynamics of foreign exchange in the inter-bank market.

Published in The Express Tribune, January 12th, 2018.

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

Facebook Conversations

Leave Your Reply Below

Your comments may appear in The Express Tribune paper. For this reason we encourage you to provide your city. The Express Tribune does not bear any responsibility for user comments.

Comments are moderated and generally will be posted if they are on-topic and not abusive. For more information, please see our Comments FAQ.

More in Business