KARACHI: The rupee weakened towards the dollar at Rs138.44/Rs138.63 inside the inter-financial institution market on Wednesday compared with Tuesday’s close of Rs137.Fifty four/Rs137.72, in line with the country financial institution of Pakistan (SBP).

final week, the rupee fell to an rock bottom at Rs144 in opposition to the greenback in intra-day buying and selling earlier than convalescing to 139.05 within the 6th spherical of devaluation given that December 2017. Cumulatively, the rupee has misplaced 31.8% of its cost in the remaining three hundred and sixty five days.

earlier in October, a hunch inside the cost of the rupee came after the government decided to knock on the global financial Fund’s (IMF) door to avoid default on import bills and debt repayments.

The principal financial institution said monetary data confirmed that the fantastic impact of latest stabilisation measures had commenced to emerge progressively. “specially, the contemporary account deficit is showing early signs of improvement,” stated the SBP.

published within the explicit Tribune, December 6th, 2018.

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