KARACHI: The rupee weakened 25 paisas against the dollar on Wednesday, owing to the lack of inflows under export receipts and remittances, dealers said. The local currency ended at Rs228.91 against the greenback from the previous day’s closing of Rs228.66 in the interbank foreign exchange market. The dealers said a fall in the inflows under … Read more
As rupee’s value dropped, the cost of food, cooking gas, clothes, travel, and energy skyrocketed. Middle- and upper-class people donated lunch packets and soft drinks to those in line. Lower-middle and working-class Americans are hardest hit by the recession. Before you wake up in Sri Lanka, you’re losing. Power cuts late into the scorching nights … Read more
KARACHI: The rupee is likely to make some recovery against the dollar next week due to significant rise in the key policy rate. The Monetary Policy Committee (MPC) in its meeting on November 19, 2019 decided to increase the key policy rate by 150 basis points to 8.75 per cent. The decision was unexpected for … Read more
