US dollar sets new record against Pak rupee, breaches 190 threshold
Stay tuned with 24 News HD Android App
The US dollar’s price Wednesday broke all records against the Pakistan rupee as it rose by Rs 1.36 during the business in the interbank on Wednesday, reported 24NewsHD TV channel.
This increase means the US dollar breaches the critical threshold of Rs190 in the interbank market.
Interbank closing #ExchangeRate for todayhttps://t.co/hIGfWVBnAt pic.twitter.com/AmQJ0izGyH
— SBP (@StateBank_Pak) May 11, 2022
With this increase, the US dollar is being traded at Rs190.02 for the first time in history in the interbank trading further deepening the economic woes of the country.
Yesterday, it closed at Rs188.66.
Interbank closing #ExchangeRate for todayhttps://t.co/Sm3ZeEIgfY pic.twitter.com/afuesryKui
— SBP (@StateBank_Pak) May 10, 2022
Although, it was being hoped that the dollar’s rate would come down once the new government took over in the country, and initially there was slight decrease in its price, but later all hopes dashed as the currency’s value started increasing with each passing day.
This upward trend is being attributed to the uncertainty with respect to the International Monetary Fund (IMF) programme, coupled with an absence of direction from the government on significant economic policies and a roadmap as well as unstable political situation in the country.
Reporter: Habib Khan