KARACHI: The rupee weakened against the dollar in both the foreign exchange markets on Friday due to factors such as the possibility of the new government continuing to implement the caretaker government’s economic policies after the elections and the possible arrival of new inflows.
At the end of the business period in the interbank market, the value of the dollar closed at the level of 279 rupees 28 paise with a decrease of 06 paise in the interbank market, while the value of the dollar closed at the level of 281 rupees with a decrease of 05 paise in the open currency market.
Global rating agency S&P predicts Pakistan’s rating to be upgraded after the elections, possible approach of the newly elected government to the IMF for the next loan program after the elections, focus on economic recovery and foreign investments. Such expectations are also seen as a reason for the stability of the rupee.
