Rupee stable against dollar   

Published: January 12, 2018
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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.

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