Categories: Latest News

US dollar hits Rs230 in the interbank

US dollar hits Rs230 in the interbank on Monday!

The negative sentiment arising from Pakistan’s political front persists in Rupee’s free fall.

A reported the US currency was being traded at around Rs230 in interbank after appreciating by Rs1.63 compared to the previous close of Rs228.37.

However, the rupee regained some ground after having slipped to 232 in intraday trading.

According to the data released by the State Bank of Pakistan (SBP), the local currency closed at 229.88 against the greenback.

Related Post

The local currency surpassed its last record low of 228.37 against the US Dollar after a fresh decline of Rs1.51 or 0.66%.

The acting governor of Pakistan’s central bank, Murtaza Syed, in a recent presentation to international investors said: “Markets are responding to these shocks in an unfairly broad-brush way, without paying enough attention to Pakistan’s relative strengths.”

SBP Deputy Governor Dr. Inayat Hussain in an exclusive with SBP Podcast said that since December 21 PKR has depreciated by 18% and 12% of it is owing to the strengthening of US$ globally.

“Domestic factors are also at play. We expect the demand-supply gap to narrow soon,” he added.


Recent Posts

  • Celebrity News

Money Laundering Case: FIA Interrogates TikToker Hareem Shah for Three Hours

TikTok star Hareem Shah has recorded a statement to the Federal Investigation Agency (FIA) regarding…

13 hours ago
  • Latest News

Entrance test date for medical colleges across the country announced

The entrance test date for medical colleges across the country has been announced on Wednesday.…

13 hours ago
  • Latest News

Muslim men publicly flogged in India leaving social media in an uproar

Muslim men were publicly flogged for allegedly disrupting Navratri celebrations by police in the Kheda…

13 hours ago
  • Celebrity News

Kim Jung Gi, acclaimed Korean visual artist, dies of sudden heart attack aged 47

Kim Jung Gi, an acclaimed Korean visual artist dies of a sudden heart attack aged…

14 hours ago
  • Latest News

Firing at Rangers in Karachi, investigation underway

Two personnel of the Sindh Rangers were injured in firing by unidentified assailants on Wednesday…

14 hours ago
  • Latest News

Former DG FIA confirms hacker’s claims, ‘was locked in PM House’s washroom on Imran Khan’s order’

Former DG FIA Bashir Memon has confirmed the hacker's claims that he was 'locked in…

16 hours ago