Karachi: The Pakistani Rupee remained stable at PKR 124.1/124.3 against the United States Dollar in the inter-bank market, stated a news report. The rupee appreciated after reports of China agreeing to lend Pakistan USD 2 billion started to surface.
From December 2017 till July 2018, the value of the rupee depreciated by about 22%, and the central bank also abstained from intervening to correct the deficit which kept widening. Even now the State Bank of Pakistan (SBP) has decided not to intervene and let the value of the rupee fluctuate as per market expectations. Reviewing this present stability, the SBP said that this has occurred because of supply and demand dynamics of foreign exchange in the inter-bank market.
