Rupee slips to new all-time low
Demand for the foreign currency stands higher compared to its supply
KARACHI:
The rupee weakened against the US dollar at Rs176.78 in the inter-bank market on Tuesday compared with Monday’s close of Rs176.48, according to the State Bank of Pakistan (SBP).
This is an all-time low value for Pakistani currency as demand for the foreign currency stands higher compared to its supply in the wake of expanding current account deficit, swelling imports, rising global commodity prices and uncertainty about the resumption of IMF loan programme.
Published in The Express Tribune, December 8th, 2021.
Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.