Dollar’s flight continues against Pakistani currency hits Rs175.27 in inter-bank trading
Dollar’s flight continues against Pakistani currency hits Rs175.27 in the inter-bank trading on Tuesday.
The greenback with an increase of 83 paisas on Tuesday has climbed up to a record Rs175.27 against the Pakistani rupee in inter-bank trading,
The rupee has depreciated to the lowest level since August 1947.
The dollar previously closed at Rs174.43 in interbank trading.
Interbank closing #ExchangeRate for today: https://t.co/8wMpfjoCFT pic.twitter.com/gIzG5RvOou
— SBP (@StateBank_Pak) October 26, 2021
According to an analyst, the situation arises owing to an increase in demand for foreign currency in the inter-bank market.
With a fresh decline of 0.48%, the rupee has depreciated 11.25% (or Rs17.73) since the start of the current fiscal year on July 1, 2021, data released by the central bank revealed.
