PHOTO: REUTERS
KARACHI: The rupee strengthened against the dollar at Rs158.5/159 in the inter-bank market on Monday compared with Friday’s close of Rs158.65/159.15, according to forex.pk.
Earlier, the SBP let the rupee depreciate massively in the inter-bank market after finalising an agreement with the International Monetary Fund (IMF) for a loan programme on May 12.
The IMF has asked Pakistan to end state control of the rupee and let the currency move freely to find its equilibrium against the US dollar and other major world currencies.
Published in The Express Tribune, August 20th, 2019.
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