Pakistani Rupee Drops to Another All-Time Low of Rs. 230 against US dollar

Another day and once more Dollar price has risen, and the Pakistani rupee on Thursday dropped to another all-time of Rs230 against the US dollar in the interbank market.

The main reason behind this uprising is due to ‘ Political Chaos ‘.

FAP Chairperson Malik Bostan attributed the rupee’s consistent decline in the last five sessions to “political chaos” and the rise in the dollar’s value in the international market. He asked the State Bank of Pakistan (SBP) to take strict action against banks involved in “speculation” so the “artificial increase” in the dollar’s price could be stopped.

In addition, the dollar’s value had risen against over 40 currencies, including the British pound and Japanese yen over the last week, which had affected the rupee in the local market, Bostan explained.