Rupee hits new low vs dollar
It was an all-time low value for the local currency
ECAP says it has the potential to fetch workers’ remittances worth more than $10 billion a year if it was provided a rebate of Rs6 per dollar. PHOTO: reuters
KARACHI:
The rupee weakened against the US dollar at Rs180.57 in the inter-bank market on Friday compared with Thursday’s close of Rs180.07, according to the State Bank of Pakistan (SBP). It was an all-time low value for the local currency as demand for the dollar stood higher compared to its supply in the wake of an expanding current account deficit, swelling imports and rising global commodity prices.
Published in The Express Tribune, March 19th, 2022.
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