Pakistani Rupee Hits Another Record Low Against US Dollar

The Pakistani Rupee continues its downfall against the US Dollar as it reaches another record low of nearly Rs. 233 at the closing of the interbank market on Monday.

Pakistani Rupee, US Dollar, USD, PKR, USD to PKR — Pakistani Rupee Hits Another Record Low Against US Dollar

According to the State Bank of Pakistan (SBP), the Pakistani Rupee closed at Rs. 232.93 against the US Dollar on July 25 (Monday), which is a depreciation of Rs. 3.05 (1.31%) compared to July 25 (Monday), when it closed at Rs. 229.88.

The Pakistani Rupee has been one of the world’s worst performing currency, falling 30.2 percent since the start of the current year that was made worse because of the political instability.

It is pertinent to mention that Pakistani Rupee has lost nearly 8% to the US Dollar during the previous week, while the country’s foreign reserves stand below $10 billion and the situation is expected to get worse amid the new political uncertainty caused by the Punjab by-elections.

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