KARACHI (Agencies) - The State Bank of Pakistan (SBP) Wednesday injected $200 million in inter-bank market to stabilise value of rupee against dollar, according to Forex market sources. SBP spokesman Syed Waseem Uddin told a private TV channel that central bank intervened in inter-bank market to stabilise the value of rupee against dollar. He, however, declined to comment on value of dollars injected in inter-bank market. According to Forex market sources, the dollar was being traded at Rs78.50 in the inter-bank and at one point its value hit Rs80. In result, the central bank injected $200m in the market. The dollar is now being traded at Rs79.55 after the central bank's intervention. Central bank said it was intervening in the money market after the rupee plunged to a record low against the dollar amid a worsening global financial crisis. The State Bank of Pakistan said it was injecting capital as the rupee traded at an all-time low of 80.5 rupees to the dollar in the foreign exchange market. It eventually closed at 79.5 rupees. "Yes, we are intervening in the market (to stabilise the rupee)," State Bank of Pakistan spokesman Syed Waseemuddin told AFP. "I cannot disclose the amount of money involved in this exercise at this point of time." The rupee has lost 23 per cent of its value against the dollar this year, mainly due to economic turmoil, a wave of militant violence and a fall in country's foreign exchange reserves. "There is a huge demand from importers which is putting an extra pressure," Nabeel Iqbal, research manager at Khanani and Kalia forex company, told AFP. "The thing most needed is to restore the confidence of foreign investors to improve the supply of dollars in the system," he said. Pakistan's fast depleting foreign exchange reserves fell to 8.135 billion dollars from 9.129 billion dollars on September 4, putting it at risk of defaulting on foreign loans. The reserves are sufficient to meet just two months of imports, economic expert Rauf Nizamani said, adding that he hoped donors and friends of Pakistan would help the country avert a looming default. But help could be in short supply given the crisis gripping the global financial system and desperate efforts by governments around the world to shore up failing banks and markets. The governor of the Pakistan State Bank, Shamshad Akhtar, said in a statement late Tuesday that Pakistan's banks are able to withstand the global crisis and there is no risk to people's savings. Banks in Pakistan largely focus on conventional lending and are not exposed to the US subprime mortgages that sparked the current turmoil, Dr Akhtar said. "There should not be any cause for concern about the stability of the banking system in the coming days," said Dr Akhtar. But she appealed to Pakistanis to "cooperate" by not panicking and withdrawing their savings from banks. "(The) public at large should cooperate and should help in channeling liquidity within the formal system," Akhtar said. The State Bank of Pakistan had injected around 500 million dollars in capital since 2006 to ensure the flow of capital, she said.