Rupee falls to new record low
Demand for the foreign currency stands higher compared to its supply
KARACHI:
The rupee weakened against the US dollar at Rs177.98 in the inter-bank market on Wednesday compared with Tuesday’s close of Rs177.88, 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 the current account deficit, swelling imports.
Published in The Express Tribune, December 16th, 2021.
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