US dollar sets new record against Pak rupee, breaches 190 threshold

By: News Desk
Published: 10:47 AM, 11 May, 2022
US dollar sets new record against Pak rupee, breaches 190 threshold
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The US dollar’s price Wednesday broke all records against the Pakistan rupee as it rose by Rs 1.36 during the business in the interbank on Wednesday, reported 24NewsHD TV channel.

This increase means the US dollar breaches the critical threshold of Rs190 in the interbank market.

With this increase, the US dollar is being traded at Rs190.02 for the first time in history in the interbank trading further deepening the economic woes of the country.

Yesterday, it closed at Rs188.66.

Although, it was being hoped that the dollar’s rate would come down once the new government took over in the country, and initially there was slight decrease in its price, but later all hopes dashed as the currency’s value started increasing with each passing day.     

This upward trend is being attributed to the uncertainty with respect to the International Monetary Fund (IMF) programme, coupled with an absence of direction from the government on significant economic policies and a roadmap as well as unstable political situation in the country.

Reporter: Habib Khan