Rupee strengthens against dollar
Cumulatively, the rupee has lost 31.8% of its value in the last 13 month
Cumulatively, the rupee has lost 31.8% of its value in the last 13 month. PHOTO: FILE
KARACHI:
The rupee strengthened against the dollar at Rs138.64/Rs139.01 in the inter-bank market on Friday compared with Thursday’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.
Published in The Express Tribune, January 26th, 2019.
The rupee strengthened against the dollar at Rs138.64/Rs139.01 in the inter-bank market on Friday compared with Thursday’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.
Published in The Express Tribune, January 26th, 2019.