Monday, April 15, 2024

Pakistani rupee hits historic low of Rs.172 versus USD

The value of the United States dollar has risen to an all-time high in Pakistan’s open market, with the currency trading beyond the Rs172 mark on Wednesday after gaining Rs0.20 against the country’s collapsing rupee.

The dollar’s value has increased by Rs18 in the last four months alone, and as of May 7, it was worth Rs152.28. In the wake of the bullish interbank trade, which also noticed the routing of local currencies against the greenback, the open market saw a spike in prices.
As of today’s interbank transaction, the US dollar is trading at Rs170.3, having gained Rs0.33 in value against the Pakistani rupee.

On the other hand, as previously reported, according to Muhammad Arshad, chairman of Pakistan Jewelers Manufacturers Association, the price of gold in Pakistan dropped by Rs200 per tola on Tuesday, bringing the price of gold to Rs1,200 per tola.

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