Rupee falls as foreign investors flee

KARACHI: The rupee declined 0.7 percent on Tuesday, making a cumulative two- day decline of 2.1 percent, the highest in eight months. 

As per data released by the State Bank of Pakistan, foreign investors withdrew $180 million from Pakistan’s treasury bills during the first six days of March. 

This could be attributed to investors anticipating a rate cut beyond 50 bps. 

 

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Ariba Shahid
The author is a business journalist at Profit. She can be reached at [email protected] or at twitter.com/AribaShahid
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