The Pakistani rupee stabilizes against the US dollar in the interbank market trades after the currency plunged over the past two days.
The State Bank of Pakistan (SBP) said the rupee closed on Thursday at 168.19, or 93 paisas better than the record low touched on Wednesday.
The rupee has come under tremendous pressure in recent weeks as the current account deficit widened and the import Deficitr increased, affecting the currency.
Some Analysts believe that the situation in Afghanistan is also to blame, as it has led to an influx of dollars into a neighboring state, where the banking system is in disarray following the withdrawal of US troops and allies and the rule of the Taliban.
While an FX trader at a large commercial bank mentioned that SBP intervened in the FX market and supplied Dollars to ward off the pressure on Rupee.
Analysts believe that the rupee is likely to stabilize around this level and is not expected to appreciate significantly from these levels.
Rupee has remained the Worst Performing Currency in the region for last couple of months.
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