Rupee Weakens to Record Low as Dollar Inflows Dwindle
From the Blog propakistani The Pakistani rupee has taken a dip against the dollar once again and has reached its record lowest value ever. It closed at Rs 119.35 against one dollar in the open market on Friday. In the inter-bank market, the value was rather stable as it stood at Rs 115.61 against the dollar, according to State Bank's data. By the day's end, Dollareast Exchange Company and forex.pk reported Rs. 119.80 and Rs. 119.10, respectively. The huge trade deficit and an ever-increasing import bill contribute highly to the depreciation of rupee. The depleting foreign reserves and low exports mean that the upcoming government would have to further depreciate the rupee's value to bridge the export-import gap. ------------------------------ ALSO READ Rupee Just Hit a New All Time Low Against US Dollapakistanblogs.blogspot.comRead Full Post
0 comments :
Post a Comment