Inter-Bank Market: Rupee stable against dollar

Cumulatively, the rupee has lost 31.8% of its value in the last 13 months


Our Correspondent January 25, 2019
PHOTO: REUTERS

KARACHI: The rupee remained stable against the dollar at Rs138.68/Rs139.05 in the inter-bank market on Thursday compared with Wednesday’s close of Rs138.68/Rs139.05, according to the State Bank of Pakistan (SBP).

Last year in November, the rupee fell to an all-time low at Rs144 against the dollar in intra-day trading before recovering to Rs139.05 in the sixth round of devaluation since December 2017.

Cumulatively, the rupee has lost 31.8% of its value in the last 13 months.

In October 2018, a slump in the value of the rupee came after the government decided to knock at the IMF door to avoid default on import payments and debt repayments.

Published in The Express Tribune, January 25th, 2019.

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