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Rupee weakens against dollar

PHOTO: REUTERS

KARACHI: The rupee weakened against the dollar at Rs157.8/158.3 in the inter-bank market on Thursday compared with Wednesday’s close of Rs157.45/157.95, according to forex.pk. Earlier, the SBP let the rupee depreciate massively in the inter-bank market after finalising an agreement with IMF for a loan programme on May 12. The IMF has asked Pakistan to end state control of the rupee and let the currency move freely to find its equilibrium against the US dollar and other major world currencies.

Published in The Express Tribune, July 12th, 2019.

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