Inter-bank market Rupee weakens against dollar

The rupee weakened against the dollar at Rs167.47 in the inter-bank market on Monday


Our Correspondent August 04, 2020
PHOTO: REUTERS

The rupee weakened against the dollar at Rs167.47 in the inter-bank market on Monday compared with Thursday’s close of Rs166.98, according to the State Bank of Pakistan (SBP). Earlier, the SBP let the rupee depreciate massively in the inter-bank market after finalisation of an agreement with the International Monetary Fund (IMF) for a loan programme on May 12, 2019. 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 4th, 2020.

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