Rupee weakens against dollar

KARACHI: The rupee weakened against the dollar at Rs133.89/Rs134.07 in the inter-bank market on Wednesday compared with Tuesday’s close of Rs133.84/Rs134.05, according to the State Bank of Pakistan (SBP). Last month, the rupee strengthened after Saudi Arabia agreed on a $6-billion assistance package for Pakistan. Earlier 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, November 15^th, 2018.

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