Rupee slips further against dollar
Demand for the dollar is higher compared to its supply in the wake of an expanding current account deficit
KARACHI:
The rupee weakened against the US dollar at Rs178.19 in the inter-bank market on Tuesday compared with Monday’s close of Rs178.17, according to the State Bank of Pakistan (SBP).
This is an all-time low value for the rupee as the currency has been declining for the past few months.
Demand for the dollar is 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 29th, 2021.
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