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PKR being traded at Rs255 per US Dollar — a record low

The sudden rise in Dollar rate has been associated with the recent decision to remove ‘unofficial restrictions’ that have kept USD at an artificially low rate.

PKR on Thursday is being traded at Rs255 per US Dollar — a record low!

The development comes amid reports that the ‘unofficial’ cap on the Dollar’s value was being removed by forex traders,

The difference in USD-PKR exchange rates between the markets, which had widened to Rs15 in recent months, now stands at Rs5.

The rupee nosedived in the interbank market during intraday trade today as it depreciated by more than Rs24, which is the lowest since July 2022.

In the interbank market, Pakistani currency was trading at Rs250 per USD, down Rs19.11, or 8.28pc, from yesterday’s close of Rs230.89.

Saman Siddiqui

Saman Siddiqui, A freelance journalist with a Master’s Degree in Mass Communication and MS in Peace and Conflict Studies. Associated with the media industry since 2006. Experience in various capacities including Program Host, Researcher, News Producer, Documentary Making, Voice Over, Content Writing Copy Editing, and Blogging, and currently associated with OyeYeah since 2018, working as an Editor.

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