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Sunday, November 27, 2022
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Pakistani Rupee in Freefall as US Dollar Crosses Rs.210 Mark

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  On Monday, the US dollar maintained its increasing trend in the interbank market, reaching the Rs210 level against the under-pressure Pakistani rupee.

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The trading of the dollar used to be at Rs210.19 in the interbank market at the time of 11:02 a.m., increasing from Rs1.44 as compared to the rupee.

The State Bank of Pakistan (SBP) on June 17 declared that the local currency had been devalued by an amount of 0.52 percent, closing at 208.75.

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The local currency constantly devalues amid instabilities over the reactivation of the IMF’s $6 billion program, an increasing current account deficit, and frequently dropping foreign exchange reserves.

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