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Pakistani rupee crashes to Rs226 against US dollar

Rupee loses Rs.2 against US dollar in interbank

KARACHI: The Pakistani Rupee (PKR) depreciated against the US dollar in the Interbank.

According to the details, the value of the dollar was also seen at the beginning of the business day on Wednesday and the dollar once again crossed the highest level of 226 rupees in the history of the country during the business.

At the start of the business day today, the dollar rose by Rs 4.52 paise to Rs 226 at the interbank level. It should be noted that the increase in the value of one dollar against the rupee was recorded by about seven rupees.

Yesterday’s increase in the value of the dollar by nearly seven rupees was the biggest increase in a single day in the history of the country, after which one dollar was sold at Rs 222.10.

It should be noted that for the past several months, the country has been witnessing a decline in the value of the rupee. After the change of government, since April 11, the value of the dollar has been continuously increasing.

Read more: US dollar touches new high against rupee, trades at 221 in interbank

In Pakistan, at the end of the fiscal year ending June 30, 2022, the dollar closed at Rs 204.85. According to experts, the increasing import bill of the country is the reason for the increase in the value of the dollar. Which has increased due to an increase in oil, gas, and commodity prices in the global market.

In addition, the delay in the restoration of the loan program with the IMF and the political uncertainty has also increased the value of the dollar.

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