Iftar Timings Mar 28 - Ramazan 17

Lahore
LHR
06:20 PM
Karachi
KHI
06:46 PM
Islamabad
ISB
06:26 PM
Peshawar
PWR
06:30 PM
Quetta
QTA
06:49 PM

News

US dollar crushes Pakistan rupee mercilessly to reach Rs194.18

May 16, 2022 12:27 PM


The opening day of the business week saw a promising start from the Pakistani rupee which showed resistance as the US dollar reached Rs192.25 from Rs192.53, but the resistance was temporary, after that the US dollar bounced back with an increase of Rs1.65 and crossed the Rs194 mark for the first time in history to close at Rs194.18, reported 24NewsHD TV channel.

It means the US dollar has yet again set another record against Pakistani rupee as on the last day of the previous business week it had reached Rs193.47 and now it has reached Rs194.

The previous close value of the US dollar last Friday was Rs192.53 against the Pakistani rupee.

https://twitter.com/StateBank_Pak/status/1526155625130082309

The experts said that the rise of the US dollar was due to the continued pressure from the import bill on the Pakistani rupee and the depleting foreign reserves.

The rupee only showed resistance for abreif time period at the start of the but after that it was like one-way domination.

Prime Minister Shehbaz Sharif in his inaugural speech in parliament after being elected as PM vowed to stabilize the dollar.

The dollar has gone down to Rs182 after the new government came into power but now it reached record high of Rs193 due market uncertainty and political tussle looming over the country.

Reporter Habib Khan

 



Most Read

  1. Aitchison College principal resigns over differences with Punjab governor Aitchison College principal resigns over differences with Punjab governor
  2. Aitchison College students, parents stage protest against principal’s resignation Aitchison College students, parents stage protest against principal’s resignation
  3. Tribal firefight in Gotki, Motorways section shut down Tribal firefight in Gotki, Motorways section shut down
  4. Five Chinese among six killed in Shangla suicide bombing Five Chinese among six killed in Shangla suicide bombing
  5. Man murders young sister by smothering her with pillow in Toba Tek Singh Man murders young sister by smothering her with pillow in Toba Tek Singh
  6. Transferred: Lawman bears the brunt of flagging down lawmaker Transferred: Lawman bears the brunt of flagging down lawmaker

Opinion

  1. IMEC to sabotage CPEC
    IMEC to sabotage CPEC

    By Dr Asif Channer

  2. 1947 TO FORM 47
    1947 TO FORM 47

    By Dr Asif Channer

  3. Beijing wants to further highlight industrial sector in its country and take scientific innovation to new heights....
    Beijing wants to further highlight industrial sector in its country and take scientific innovation to new heights....

    By Ali Ramay

  4. Global race: China will reduce its unnecessary expenses
    Global race: China will reduce its unnecessary expenses

    By Ali Ramay

  5. Channer Pir: The Great Saint of Cholistan
    Channer Pir: The Great Saint of Cholistan

    By Dr Asif Channer

  6. Literate the Religious Illiterate
    Literate the Religious Illiterate

    By Dr Asif Channer