Pakistani rupee hammers US dollar to fall to Rs182 mark
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The US dollar plunged to Rs182 mark after losing 91 paisas against Pakistani currency which has started rebounding after touching historic low, hitting the Rs189 mark on April 7, reported 24NewsHD TV channel.
The forex dealers said that during the business in interbank trading on Tuesday, the US dollar fell to Rs182.02 and shed a value of 91 paisas.
Yesterday, the greenback was closed at Rs182.93.
Interbank closing #ExchangeRate for todayhttps://t.co/Tc19U8R5Hz pic.twitter.com/UbNCLbSyfr
— SBP (@StateBank_Pak) April 12, 2022
Experts said during the business in last three trading days the US dollar has lost its value by Rs6.16 which is a very healthy sign.
According to economic experts, the rupee has started showing signs of recovery after the political uncertainty has come to an end and a new government has been installed.
The IMF has already announced that it would start its next review for the USD 6 billion bailout programme once a new government would take place.
The IMF has stalled its review talk with the previous PTI government as the global lender expressed its concern over the relief package announced by former prime minister Imran Khan.
Apart from this, the State Bank also hiked the policy rate by 250 bps to 12.25% in an emergency meeting on April 7 after rupee plunged to an all-time low to help safeguard it from further dip.
Reporter Habib Khan