Karachi: The rupee has become stable against the dollar at PKR 124/124.2 in the inter-bank market, as compared to previous days, according to a news report. This is attributed to China’s agreement to lend Pakistan USD 2 billion, which has spread a wave of positivity in the market.
Overall, the rupee has recovered by 3.36% from when it sunk to KR 128.5/ USD 1 during last month. Before this, since December 2017 the Pakistani rupee had lost its value by 22% as the central bank decided not to intervene and let the Rupee free-float as per market expectations. Even now the State Bank of Pakistan isn’t interfering in the value and is letting it freely float.
