Islamabad, Nov 1: Pakistani Rupee Thrashes US Dollar in Interbank
The interbank price of the US dollar has dropped by 12 paisas in relation to the Pakistani rupee.
In the course of interbank trading, the US dollar dropped to Rs277.73.
In interbank trade, the US dollar has moved a lot in relation to the Pakistani rupee over the last 12 months.
Economic concerns like as political unpredictability, high inflation, pressure from imports, and external debt commitments have caused volatility in the PKR.
Due to economic uncertainty and IMF loan terms, the PKR fell to a historic low against the USD in 2023, surpassing Rs300 in September.
However, a combination of government actions and a decline in demand for imports helped stabilize the currency between the end of 2023 and the beginning of 2024.
The rupee’s vulnerability to both local policy and international economic trends is demonstrated by the highs, which reached peaks above Rs300/USD, and lows, which settled in the Rs275–280 PKR/USD region.
Pakistan’s continuous battle with foreign exchange reserves and economic reforms is highlighted by the volatility.
