KARACHI: The rupee weakened towards the dollar at Rs132.52/Rs132.70 in the inter-financial institution market on Wednesday in comparison with Tuesday’s close of Rs132.49/Rs132.Sixty four, according to the nation financial institution of Pakistan (SBP). Remaining month, the rupee reinforced after Saudi Arabia agreed on a $6-billion assistance package for Pakistan. Earlier in October, a slump inside the fee of the rupee got here after the government determined to knock on the international economic Fund’s (IMF) door to keep away from default on import bills and debt payments. This turned into the 5th round of massive depreciation of the Pakistani forex when you consider that December 2017 to tame competitive demand for bucks in a faltering economic system. Cumulatively, the rupee has dropped 26.67% in the last 10 months.

published within the express Tribune, November 8th, 2018.

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