KARACHI: There is a lot of buzz surrounding the rupee’s slide against the dollar and more importantly of an injection by the SBP into the forex market. The rupee depreciated by 45 paisa against the greenback and was being quoted at 169.10 to 169.50 while trades were reported at 169.50. “SBP does not comment on speculations about market interventions,” said Qamar. so despite record high SBP reserves the demand supply equation necessitated a correction on the PKR,” says Ali. Moreover, there has been an upswing in car sales which adds to the import bill considering Pakistan imports parts.

Source: Pakistan Today September 16, 2021 07:49 UTC