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.
Trending
- Peaceful protests hold across AJK against worst rigging in by-elections
- Parliamentary party under the chairmanship of PM AJK holds a meeting
- All political parties and the opposition condemn fake and bogus cases against journalists in AJK
- Inflation in Pakistan
- “The world – A war zone”
- Political Meltdown in Pakistan And Way Forward
- ‘‘Hate speech’’ Modi might be disqualified
- Amanullah Khan: Remembering the Gilgit Rebel