Summary The exchange rate in the interbank market has depreciated by 3.1%: SBP
ISLAMABAD (Dunya News) - The hike in US dollar rate in interbank trading has seriously annoyed the finance minister as Ishaq Dar termed the recent political turmoil as the cause for such a poor show by local rupee.
"The deficit in the external account has been rising for some time and accordingly, the exchange rate adjusted in the market," the state bank revealed in an official handout while exerting its independence.
The SBP professed while letting it be known that the recent depreciation will address the emerging imbalances in the external account.
"The exchange rate in the interbank market has depreciated by 3.1% from Rs104.90 per US$ to Rs108.25," the SBP expressed.
