Rupee sheds more value against dollar in interbank trading
Karachi: (Suno News) The Pakistani rupee Tuesday depreciated by 0.18 percent against the US dollar and ended the day at Rs281.47, according to the State Bank of Pakistan.
— SBP (@StateBank_Pak) October 31, 2023
On Monday, the Pakistani rupee had gone down 0.14 percent to settle at Rs280.95 against the greenback.
— SBP (@StateBank_Pak) October 30, 2023
In a related development, the Monetary Policy Committee (MPC) of the SBP, in line with the wider market consensus, kept the key policy rate unchanged at 22 percent on Monday.
In a press release, the State Bank said: “The committee noted that headline inflation rose in September 2023 as expected. However, it is projected to decline in October and then maintain a downward trajectory, especially in the second half of the fiscal year.”