US dollar continues its marathon run against Pakistani rupee, gains Rs3.05

By: News Desk
Published: 10:15 AM, 26 Jul, 2022
US dollar continues its marathon run against Pakistani rupee, gains Rs3.05
Caption: Representational image.
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The US dollar time and again has proved that it’s the world’s most powerful currency and here in Pakistan it has been dominating the money market with hands down.

During the business in intrabank trading on Tuesday, the US dollar scored another massive gain of Rs3.05 taking the American currency to a new historic level of Rs232.93 against the spineless Pakistani rupee.

On Monday, the American currency had gained Rs1.51 against the Pakistani rupee and reached Rs229.88 in the interbank trading.

During the interbank trading the dollar rate went as up as Rs232 before receding as it closed at Rs229.88.

SBP Governor Dr. Murtaza Syed in an exclusive SBP podcast said that Pakistan had achieved the very important milestone of the staff-level agreement with the IMF and the loan programme is fully on track.

Also, SBP Deputy Governor Dr Inayat Hussain in an exclusive with SBP Podcast said that since December 21 rupee had depreciated by 18% and 12% of it was owing to strengthening of the US dollar globally. “Domestic factors are also at play. We expect demand supply gap to narrow soon,” he added.

Reporter: Ashraf Khan