Rupee experiences a steady decline for the 12th consecutive working day, reaching a five-week low of over Rs286 against the US dollar in the interbank market. Photo: FILE
The rupee strengthened against the US dollar at Rs177.88 in the inter-bank market on Tuesday compared with Monday’s close of Rs177.89, according to the State Bank of Pakistan (SBP). On December 13, 2021, Pakistani currency touched an all-time low of Rs177.89 as demand for the foreign currency stood 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 15th, 2021.
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