Tuesday, May 28, 2024

US Dollar Rises all Time High to Rs.178.6 Against Pakistani Rupee.

In the inter-bank market, the Pakistani rupee fell to an all-time low of Rs178.61 against the US dollar due to significant demand for the greenback as importers resorted to panic buying of the foreign currency amid rising commodities costs.

According to the State Bank of Pakistan (SBP), the Pakistani rupee finished today at Rs178.61 versus the US dollar, while the rupee traded at Rs178.13.

On December 29, the local currency hit a record low of Rs178.23 against the US dollar.

For the previous ten months, the rupee had been falling. It has fallen 17.29 percent (or Rs26.34) since its all-time high of Rs152.27 in May 2021.

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