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Dollar becoming more stronger against Rupee

Karachi: On Monday in the currency market the dollar become more stronger then Rupee, compared with Friday’s close of 90.18/23, due to an increase in import payments.

In the Intra-day trade this month rupee become a record low of 91.28 to the dollar, Analysts says that this is due to the country economic health and weakening current account.

According to the data of State Bank of Pakistan The current account recorded a provisional deficit of $2.154 billion in the first six months of the 2011/12 fiscal year, compared with a surplus of $8 million in the same period last year.

Dollar is becoming more stronger as compared to the Rupee due to the economic pressure on rupee.

For more information, contact:
Syed Wasimuddin
Chief Spokesman
State Bank of Pakistan (SBP)
Tel: +9221 3921 2562
Fax: +9221 3921 2563
Email: syed.wasimuddin@sbp.org.pk

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