The rupee dived to Rs178 against the dollar in the open market, reported the Exchange Companies Association of Pakistan. Photo: file
The rupee strengthened against the US dollar at Rs176.07 in the inter-bank market on Friday compared with Thursday’s close of Rs176.38, according to the State Bank of Pakistan (SBP). On December 29, 2021 the rupee hit an all-time low value of Rs178.24 against the greenback as demand for the dollar was 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, January 15th, 2022.
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