Pakistani rupee drags US dollar down to Rs200 mark

24/05/2022 9:47:00 AM

Pakistani rupee drags US dollar down to Rs200 mark

Latest News Pakistan, Rupee

Pakistani rupee drags US dollar down to Rs200 mark

The Pakistani rupee at last offered some resistance to the rampant US dollar as the business opened in the intrabank trading on Tuesday, reported 24NewsHD TV

Experts say ever since the coalition government has taken over, the dollar’s price has soared by about Rs18; an unprecedented increase in just over 40 days.On April 11, 2022, the first working day of the new government, its price stood at Rs182.93, they said, adding the rise in US dollar’s rate has led to an increase in import spending, which would send the prices of different items soaring in days to come.

It is pertinent to mention here that the State Bank of Pakistan reserves after a decrease of $140.50 have now reached $10.16 billion. 

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May 23, 2022 Experts say ever since the coalition government has taken over, the dollar’s price has soared by about Rs18; an unprecedented increase in just over 40 days.Buoyed US dollar breaks all records, reaches Rs201.By: Published: 11:09 AM, 23 May, 2022 Stay tunned with 24 News HD Android App Share dollar broke all previous records in terms of its price against the Pak Rupee in the interbank market on Monday as it closed on an all-time high rate of Rs200..

On April 11, 2022, the first working day of the new government, its price stood at Rs182.93, they said, adding the rise in US dollar’s rate has led to an increase in import spending, which would send the prices of different items soaring in days to come.14 on Friday, touched an all-time high Rs201. It is pertinent to mention here that the State Bank of Pakistan reserves after a decrease of $140. Interbank closing.50 have now reached $10. Experts have attributed devaluation of the rupee to an increase in the import bill and repay of foreign loans.16 billion.

  Reporter Ashraf Khan . Experts said that investors are concerned as there is speculation and uncertainty in market poses that the IMF may not agree to resume the loan programme following the government’s reluctance to implement the prerequisite conditions including POL price hike ending subsidies.