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

Zero Tariffs? Trump Claims Big Win Over India

Trump Claims India to Eliminate Tariffs on U.S. Imports..reports Asian Lite News U.S. President Donald Trump announced on Tuesday that India has either already removed or is in the process of removing

UNSC Grills Pakistan Over Pahalgam Attack

Though Pakistan claimed that the meeting largely served and achieved the objectives of the UNSC’s meeting, reports showed that it flopped miserably…reports Asian Lite News The United Nations Security Council (UNSC) reportedly

Pakistan’s Terror Link “No Secret”: Bilawal Bhutto

Zardari stated that Pakistan’s intelligence services have since changed course and no longer collaborate with extremist elements..reports Asian Lite News Bilawal Bhutto Zardari, former Foreign Minister of Pakistan, has openly acknowledged Pakistan’s

Islamists Rise Under Yunus Rule

After the departure of former Prime Minister Sheikh Hasina in August 2024, Islamic parties in Bangladesh, crushed for years by the Awami League government, have made inroads into the political arena…writes Baidya
Go toTop

Don't Miss

Pakistan govt’s Twitter account taken down in India

The accounts include those of the Pakistani Embassy in UN,

Election Commission postpones Islamabad local body polls

A five-member bench had reserved the verdict earlier in the