Experts said that uncertain domestic political situation was mounting pressure on the rupee. photo: file
The rupee weakened against the US dollar at 221.92 in the inter-bank market on Monday compared with Friday’s close of 220.66, according to the State Bank of Pakistan (SBP). The rupee has depreciated sharply in the past few months in the wake of delay in revival of International Monetary Fund (IMF) loan programme, poor macroeconomic indicators and political uncertainty. It plummeted to an all-time low of Rs239.94 against the greenback on July 28, 2022. Pakistan is expected to receive around $1.2 billion in the next loan tranche from the IMF.
Published in The Express Tribune, August 30th, 2022.
Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.
1734424452-0/BeFunky-design-(6)1734424452-0-405x300.webp "article")
COMMENTS
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ