Inter-Bank Market: Rupee weakens against dollar

KARACHI: The rupee weakened against the dollar at Rs156.25/156.75 in the inter-bank market on Monday compared with Friday’s close of Rs156.2/156.7, according to forex.pk.

Earlier, the SBP let the rupee depreciate massively in the inter-bank market after finalisation of an agreement with the 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, October 8^th, 2019.

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