KARACHI: The State Bank of Pakistan on Wednesday viewed that the depreciation in the exchange rate, rupee vs dollar, will address the emerging imbalance in the external account and strengthen the growth prospects of the country. The PKR-US$ exchange rate in the interbank market has depreciated by 3.1 percent from Rs 104.90 per dollar to Rs 108.25 per dollar on Wednesday. The central banks said that while almost all macroeconomic indicators have been showing encouraging picture, such as decade-high real GDP growth, increase in investment, credit expansion to private sector, and subdued inflation; the deficit in the external account has been rising for some time. Accordingly, the exchange rate adjusted in the market.
