Rupee weakens against dollar

The rupee weakened against the US dollar at Rs152.59 in the inter-bank market on Monday


Our Correspondent May 18, 2021
Some of the other important conditions of the IMF, which the government will be implementing in the coming weeks, are resolution of outstanding tax issues including timely payment of tax refunds. PHOTO: FILE

KARACHI:

The rupee weakened against the US dollar at Rs152.59 in the inter-bank market on Monday compared with Friday’s (May 7) close of Rs152.27, 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. T

he 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, May 18th, 2021.

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