According to the State Bank of Pakistan (SBP), the local currency had closed at Rs171.18 to a dollar on Friday. A report of Arif Habib Limited stated that the rupee on Monday experienced the highest single-day decline after March 26, 2020. The overall sentiment in the market remained weak due to all these factors, he said. He added that the market also feared that the IMF programme would resume with harsh and stringent conditions. “Delay in agreement between Pakistan and the global lender is aiding the drop in rupee’s value.”Published in The Express Tribune, October 19th, 2021.

Source: The Express Tribune January 01, 1970 00:00 UTC