Saturday, May 25, 2024

Rupee crosses Rs. 185 Mark Against US Dollar for First Time in Pakistan’s History

The Pakistani rupee hit a record low against the dollar on Tuesday, breaking through Rs185 during intraday trading in the interbank market.

Rising 1.31 rupees since Friday, the local currency has hit 185.40 rupees against the dollar. The rupee experienced a decline of 7 rupees against the dollar in March 2022.

However, the recent political crisis following Prime Minister Imran Khan’s dissolution of the National Assembly and the deadlock on the International Monetary Fund’s (IMF) lending program has also dealt a severe blow to the rupee.

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