KARACHI – The greenback on Friday reached Rs169 in Pakistan as coronavirus shocks stored the international foreign money provide tight amid drying up inflows.
The rupee misplaced an additional 2.87 in intraday buying and selling right now after hitting a file low of Rs 166.13 on Thursday.
The SBP has slashed the rate of interest by cumulative 225 foundation factors to 11% this week to counter the impression of a digital lockdown all around the nation.
The rupee had remained secure, buying and selling within the vary of 154-155 between October 2019 and March 2020 beneath the market-based change charge regime. It began depreciating from earlier this month and has misplaced a cumulative Rs14 to this point.
