Cumulatively, the rupee has lost 31.8% of its value in the last 12 months.
PHOTO: FILE
KARACHI: The rupee weakened against the dollar at Rs138.70/Rs139.04 in the inter-bank market on Friday compared with Thursday’s close of Rs138.69/Rs139.02, 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.
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