SBP Issues a Statement on Recent Devaluation of Rupee

The PKR-US$ exchange rate in the interbank market closed at PKR 115 per US$ yesterday and witnessed an intraday high and low of PKR 116.25 per US$ and PKR 110.60 per US$, respectively.

Exports and workers’ remittances have posted promising growth rates of 12.2 percent and 3.4 percent respectively during July-February FY18 after showing a decline in the same period last year.


Market Gains Over 750 Points After News of Rupee Devaluation

However, the country’s external Balance of Payments position is under pressure due to the large import bill.

This has resulted in a widening of current account deficit which has translated into a demand-supply gap of foreign exchange.

This adjustment in exchange rate remains broadly aligned with evolving fundamentals on the external front.

As enunciated in the press release of Dec 2017, SBP believes that the exchange rate movements will continue to reflect the demand-supply conditions in the foreign exchange market. SBP will continue to closely monitor the foreign exchange markets; and stands ready to intervene to curb the emergence of speculative pressures.

  • SBP seedha seedha bakwaas kyun nahi kerti ye sab Govt. ki corruption ki wajha se hua hai… karzay leti rahi metro keliye aur pooray Pakistan per us ka bojh daal diya aur faida siruf lahore ko diya aur woh b siruf un logon ko jin k ghar metro k nazdeek hai baaki lahoriyun ko kya faida…

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