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Rupee weakens against dollar

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The rupee weakened against the US dollar at Rs170.51 in the inter-bank market on Monday compared with Friday’s close of Rs170.01, according to the State Bank of Pakistan (SBP). On October 26, 2021, Pakistani currency closed at an all-time low of Rs175.27 as demand for the foreign currency stood higher compared to its supply in the wake of increase in import payments, rising global commodity prices and uncertainty about the resumption of IMF loan programme. 

Published in The Express Tribune, November 9th, 2021.

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