Rupee remains stable despite regional war pressures

KARACHI: Despite 19 days of war in the Middle East, Pakistan’s exchange rate remained stable, encouraging stakeholders, including the State Bank of Pakistan (SBP) and the government. The exchange rate has largely remained stable during the current fiscal year, and predictions of destabilisation proved unfounded despite the prolonged conflict. This stability comes as regional currencies weakened; the Indian rupee depreciated by up to five per cent from Rs88 to Rs92 against the US dollar during...

By none@none.com (Shahid Iqbal)