Karachi: The Pakistani rupee has remained stable against the dollar at PKR 121.4/121.6 in the inter-bank rate, according to a news report. The rupee weakened by 3.65% in this third round last month and since December, has shed by 13% of its value.
The State Bank of Pakistan (SBP) has promised prompt intervention in case of any speculative or momentary pressures. However, for now, the SBP is letting the rupee float freely on external accounts, and expects that this move on its own will be able to sustain a higher growth trajectory on its own and within some time, stabilise in the market.
