April 5, 2022
1 min read

Pakistani rupee at all-time low

It has declined by nearly 7 PKR against the greenback in the last month….reports Asian Lite News

The Pakistani rupee on Tuesday plummeted to an all-time low against the US dollar, trading at 185.40 PKR in the interbank market during intraday trading, up 1.31 PKR from 184.09 on April 1.

The local currency surpassed the 185 PKR-mark for the first time in the history of Pakistan, said Geo News.

It has declined by nearly 7 PKR against the greenback in the last month.

The Pakistani rupee has maintained its slump mainly because the US dollar is gaining strength against other major global currencies for the past few days.

However, the recent decline came on the back of the uncertain political situation and stalled IMF programme.

Pakistan-Kuwait Investment Company Head of Research Samiullah Tariq said: “Pakistani rupee is depreciating because of uncertainty regarding the continuity of the IMF programme, which is dependent on the formation of the caretaker government.”

On Monday, the IMF had assured that it would continue to provide support to the “new formed government” and will involve in policy talks with them to enquire about their intentions about the loan.

Meanwhile, other currency dealers said the rupee is expected to remain under pressure in the ongoing week on the unending political showdown in the country.

ALSO READ: UN chief urges Pakistan to respect democratic process

Previous Story

‘Sharmaji Namkeen’: Nothing new or unusual, but light-hearted

Next Story

Goyal in Australia to cement trade ties

Latest from -Top News

US Backs India’s Hunt for Pahalgam Terrorists

Gabbard’s “hunt down” message comes amidst escalating Indian response to the terrorist attack, saying it had clear “cross-border” links to Pakistan….reports Asian Lite News Tulsi Gabbard, Director of National Intelligence (DNI), on

Border Sealed, Hopes on Hold

A Hindu family from Balochistan’s Sibi was reportedly denied entry into India after the closure of border crossing….reports Asian Lite News Pakistan and India’s decision to shut down the Wagah-Attari border crossing

West visits Cambodia to strengthen ties 

The visit also addresses shared security concerns, including combating serious organised crime and human trafficking, and future defence cooperation initiatives  The UK and Cambodia are collaborating to advance climate initiatives and promote
Go toTop

Don't Miss

Imran’s PTI vs. Military – Round 365

Today, both PTI and the military establishment mark May 9

SGPC Seeks Preservation of Sikh Shrines in Pakistan

Shiromani Gurdwara Parbandhak Committee has approached the Pakistan government for