KARACHI – The Pakistani rupee in the early trade hours on Monday lost its strength by 5 paisa and hit Rs155.95 against the U.S. dollar in the interbank market.
In the last two months, the local currency was observed to significantly recover against the greenback in both interbank and open markets. The SBP has let the rupee depreciate significantly in the inter-bank market after finalising an agreement with the International Monetary Fund for a loan programme on May 12.
The stringent conditions – on which the global moneylender has formally approved the bailout package of $6 billion for Pakistan – seemed to have exerted more pressure on the local currency. Moreover, they had considered that state’s exports and investment were required to grow significantly, and the imports must be reduced to remove pressure on the local currency.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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