Pakistani Rupee Remains Stable Against the Dollar

Pakistani Rupee

On Tuesday the Pakistani rupee remained stable against the dollar at Rs124.1/124.3 against Rs124.1/124.3 on Monday.  After Chiba decided to give $2 billion in loans to Pakistan, the rupee value has gone up against the US dollar.

Earlier the Pak Rupee dropped to Rs 125 against the dollar in the kerb market. It depreciated lowest since last seven weeks. The reason given was that a meeting held between Asad Umar the Finance Minister and the dealers at the currency exchange which led to it. But the dealers denied that there was any connection between the two things.

Must read: Rupee currency weakens against the US dollar

Then previously during December 2017, the rupee lost value by 22%. State Bank of Pakistan statement regarding rupee instability was that due to supply and demand issues of foreign exchange in the inter-bank market, the rupee has remained unstable. According to a press release the central bank of Pakistan will let “market-driven adjustment in the exchange rate to continue to contain the imbalance in the external account and sustain a higher growth trajectory.”

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