Karachi: The Pakistani rupee ended firmer yesterday thanks partly to a supportive statement from the central bank, but it remained close to a record low in thin trading.
The rupee ended at 67.80/68.50 to the dollar, up slightly from Monday's close of 68.00/69.00. Still, the currency has depreciated 10 per cent since the start of the year.
Trade has been thin since the rupee hit a record intraday low of 69.47/67 and a record closing low of 69.40/60 on Friday:frown:
General factors leading to devaluation: Persistent adverse trade balance and disequilibrium in balance of payment are the main causes, which compels a country to devalue its currency. Major components of trade balance are exports and imports of a country. Adverse trade balance is generally the result of slackness in exports in comparison to imports.
if the ruppe is goin to depriciate with this speed.All prices would be insane.:frown:
A brand new psp would cost around 17 k in next 2 to 4 months
The rupee ended at 67.80/68.50 to the dollar, up slightly from Monday's close of 68.00/69.00. Still, the currency has depreciated 10 per cent since the start of the year.
Trade has been thin since the rupee hit a record intraday low of 69.47/67 and a record closing low of 69.40/60 on Friday:frown:
General factors leading to devaluation: Persistent adverse trade balance and disequilibrium in balance of payment are the main causes, which compels a country to devalue its currency. Major components of trade balance are exports and imports of a country. Adverse trade balance is generally the result of slackness in exports in comparison to imports.
if the ruppe is goin to depriciate with this speed.All prices would be insane.:frown:
A brand new psp would cost around 17 k in next 2 to 4 months