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Business & Economy Categorized Politics

Pakistan Rupee: Dollar Goes High, Shatters All Previous Records

Dollar exchange rate “improved” all the previous records, as the interbank rate climbed up to Rs162.67, an increase of Rs5.2 in single day after trading began on Wednesday.

However, there has been some fluctuation in the price later in day as it was recorded Rs161.5 in the afternoon. Meanwhile, dollar is being traded at Rs162.15 in open market.

Read more: Rupee is Going South, Dollar Available for Rs151 — Things are Different in India Whose Currency Rose to 69.36 from 70.23

Since in June 1, dollar price has gone up by Rs 13.58 and in the process added Rs 1325 billion to national debt, experts say.

There has been strong reaction to the continuous slide, as PML-N leader Maryam Nawaz said historic incompetence and failure had engulfed Pakistan.

Earlier in the day, she shared some latest news items in a tweet.

Senior party leader Khawaja Asif was among those who shared their views on the topic.

On the other hand, senior journalist Nadeem Malik said Rupee-Dollar parity at Rs160 for one US dollar was paving the way for the agreed exchange rate ahead of the budget approval and the upcoming IMF board meeting.

It’s too much devaluation and hyper interest rate, which triggered inflation and slowed down growth, he added.

Meanwhile, some people still can find space for satire even amid the toughest challenges.


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