Inter-Bank Market: Rupee strengthens against dollar
IMF has asked Pakistan to end state control of the rupee and let the currency move freely
PHOTO: FILE
KARACHI:
The rupee strengthened against the dollar at Rs156.3/156.8 in the inter-bank market on Wednesday compared with Friday’s close of Rs156.5/157, 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, September 12th, 2019.
The rupee strengthened against the dollar at Rs156.3/156.8 in the inter-bank market on Wednesday compared with Friday’s close of Rs156.5/157, 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, September 12th, 2019.