Monday, October 2, 2023

US Dollar Touch new high Against Pakistani Rupee in Open Market, Today’s Rate Here

In recent weeks, the rupee has been consistently under pressure, and financial experts attribute this surge to external payments made in July, which played a significant role in driving up the value of the US dollar.

Around noon, within the interbank market, the rupee exhibited a rise of over 50 paisas, while the US dollar surged by 2 rupees. This surge in the dollar’s value intensifies the ongoing struggles of Pakistanis who are already grappling with the highest inflation rates seen in decades.

Pakistan, with a population exceeding 240 million, has been contending with skyrocketing inflation for over a year. This economic challenge has been fueled by global increases in commodity prices, domestic economic issues, and a balance of payments crisis, all of which have taken a severe toll on the country’s currency.

The Pakistani rupee experienced a notable depreciation as the US dollar continued its upward trajectory, reaching an unprecedented high of Rs. 330 in the open market.

The record-high value of the US dollar against the Pakistani rupee reflects the country’s ongoing economic challenges, leaving its citizens facing substantial financial difficulties.

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