The continuous fluctuation of Pakistan’s rupee against dollar is continued from last few months, but on Friday (June 22) rupee remained stable against the dollar at Rs156.8/157.3 in the inter-bank market as compared with Thursday’s close of Rs156.8/157.3, according to forex.pk.
Earlier the value of the US dollar against the rupee touched another all-time high in the open inter-bank markets as US dollar is trading at Rs 157.14 in the interbank market. The rupee has weakened Rs9.04 or 6.11% since June 3. The IMF and world bank had 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
Earlier, the central bank said it “will continue to closely monitor the situation and stands ready to intervene in case of any unwarranted volatility in the foreign exchange market.” Meanwhile the analysts had blamed Loan agreement between Pakistan and IMF for historic devaluation of Pakistani Rupees. however the government has denied the rumors.
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19 July, 2019