KARACHI: The rupee strengthened against the dollar at Rs138.64/Rs139.02 in the inter-bank market on Tuesday compared with Monday’s close of Rs138.65/Rs139.03, according to the State Bank of Pakistan (SBP).

Last year in November, the rupee fell to an all-time low at Rs144 against the dollar in intra-day trading before recovering to Rs139.05 in the sixth round of devaluation since December 2017. Cumulatively, the rupee has lost 31.8% of its value in the last 13 months. In October 2018, a slump in the value of the rupee came after the government decided to knock at the IMF door to avoid default on import payments and debt repayments.

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