Inter-bank market: Rupee strengthens against dollar  

Rupee has lost 31.8% of its value in the last 13 months.


Our Correspondent January 29, 2019
PHOTO: FILE

KARACHI: The rupee strengthened against the dollar at Rs138.5/Rs139.9 in the inter-bank market on Monday compared with Friday’s close of Rs138.7/Rs139.2, according to forex.pk.

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.

Rupee hits seven-week high at 138.78

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 29th, 2019.

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