I read this carefully. It does not make any sense to me. Can anyone understand what is happening? What the heck are swinging, crushing and forcing? Am I looking at a Central bank or a Boxing match?
|However, within an hour of the implementation of the unprecedented decision by exchange firms on Wednesday, the SBP swung into action and crushed the move, forcing exchange companies to bring down the initial price of Rs252.5 to Rs243. In the interbank market, the rupee depreciated 0.21pc against the dollar to close at Rs230.89.|
SBP intervention limits rupee’s fall after cap lifted
Local currency closes at Rs243, up from Rs252.5 level seen when trading opened on Wednesday.