A thousand rupee note. PHOTO: FILE
The rupee weakened against the US dollar to a record low of Rs178.17 in the inter-bank market on Monday compared with Friday’s close of Rs178.13, according to the State Bank of Pakistan (SBP). Earlier, the rupee hit the all-time low of Rs178.15 on December 22 as demand for the dollar stood higher compared to its supply in the wake of an 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 28th, 2021.
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