In the interbank market on Tuesday, the US dollar reached an all-time high versus the Pakistani rupee.
Currency dealers, experts, and analysts cite a variety of causes for the sharp drop in the local currency’s value versus the US dollar, but they claim the State Bank of Pakistan (SBP) has taken no action to halt the depreciation and restore stability.
According to statistics, the value of the greenback increased by 0.85 paisa today in the interbank market, trading at Rs168.95, up from the previous high of Rs168.58.
During the last four months, the value of the US dollar has increased by Rs16.67. The greenback was last traded in the interbank market at Rs168.10 paisas yesterday.
Last year, in August, the Pakistani rupee hit an all-time low of 168.43 versus the US dollar before recovering some losses to reach a 22-month high of Rs152.95 in April 2021.