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US dollar hits 190 thresholds, a new record against Pakistan rupee

US dollar hits the 190 thresholds, a new record against the Pakistan rupee on Wednesday.

The US dollar is being traded at Rs190 for the first time in history in the interbank trading of Pakistan.

On Wednesday the US dollar rose by Rs 1.34 during the business in the interbank, surpassing Tuesday’s record low of Rs188.66.

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Finance experts regard this downfall of local currency due to two main reasons.

First, due to uncertainty regarding the revival of the IMF loan programme.

And secondly, due to the depleting foreign exchange reserves.

Furthermore, an absence of direction from the government on significant economic policies and a roadmap as well as an unstable political situation in the country, has led to an upward trend in the US dollar rate.

Saman Siddiqui

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