Rupee stays almost unchanged  

Cumulatively, the rupee has lost 31.8% of its value in the last 12 months


Our Correspondent December 11, 2018
Cumulatively, the rupee has lost 31.8% of its value in the last 12 months. PHOTO: FILE

KARACHI: The rupee value against the dollar stood at Rs138.71/Rs138.99 in the inter-bank market on Monday compared with Friday’s close of Rs138.73/Rs138.98, 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. 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, December 11th, 2018.

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

COMMENTS

Replying to X

Comments are moderated and generally will be posted if they are on-topic and not abusive.

For more information, please see our Comments FAQ

E-Publications

Most Read