US Dollar Reaches All-Time High Against Pakistani Rupee

The US Dollar (UDS) has reached an all-time high against Pakistani Rupee (PKR) at Rs. 180.07 in the inter-bank market on Thursday as compared to Tuesday, when it closed at Rs. 179.44. It is pertinent to mention that these inter-bank exchange rates are provided by the State Bank of Pakistan (SBP).

The Pakistani Rupee (PKR) has continued to struggle against the US Dollar (USD) and other major currencies in the last few weeks as demand for the dollar has remained high compared to its supply in the wake of the expanding current account deficit, increasing imports and rise in price of global commodities.

Furthermore, the political uncertainty and global unrest are not helping the Pakistani Rupee (PKR) either as it continues to depreciate against major currencies. The uncertainty over the International Monetary Fund (IMF) loan programme has also caused the Rupee to decline further.

It is pertinent to mention that Pakistani Rupee (PKR) has been on a downward trend against the US Dollar (USD), with small improvements in between, since May 2021, when it reached a high of Rs. 152.27.

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