KARACHI: The rupee remained almost flat against the dollar at Rs138.66/Rs139.03 in the inter-bank market on Tuesday compared with Monday’s close of Rs138.66/Rs139.04, according to the State Bank of Pakistan (SBP).
Last year in November, the rupee fell to an all-time low at Rs144 against the dollar in intra-day trading before recovering to Rs139.05 in the sixth round of devaluation since December 2017. Cumulatively, the rupee has lost 31.8% of its value in the last 13 months. In October 2018, a slump in the value of the rupee came after the government decided to knock at the International Monetary Fund’s (IMF) door to avoid default on import payments and debt repayments.
