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