Dollar hits all-time high at Rs192
KARACHI – The Pakistani rupee on Thursday continued its downward slide against the US dollar as it dropped to an all-time low of Rs192 in the interbank market.
According to the Forex Association of Pakistan, the dollar breached the 191-mark at the day's start and soared to Rs192.20 around 11:45am, appreciating by Rs2 from the previous day's close of 190.20 — the record high value for the dollar before today's session.
The dried-up foreign currency inflows coupled with a delay in the revival of the International Monetary Fund (IMF) programme and a lack of financial support from friendly countries are adding to the pressure on the local unit.
However, economist Kaiser Bengali on Twitter said that early elections before inflation and dollar rates are stabilised will be a “disaster.”
Early elections, before inflation n dollar rates are stabilized, will be a disaster.— Dr. Kaiser Bengali (@kaiserbengali) May 11, 2022
Election expenses increase money in circulation n will add fire to already high inflation. ONLY way to stabilize inflation is thru reduction of non development expenditures.
Today's currency exchange rates in Pakistan - ... 09:05 AM | 12 May, 2022
KARACHI - Following are the foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. ...
- India’s first PM Jawaharlal Nehru’s statue vandalised by Hindutva ...11:02 PM | 28 May, 2022
- Leaked phone call allegedly between Malik Riaz and Asif Zardari goes ...10:47 PM | 28 May, 2022
- PropTech: the inevitable digitization of real estate in Pakistan10:28 PM | 28 May, 2022
- Shah Rukh Khan's son Aryan gets clean chit in drugs case07:47 PM | 28 May, 2022
- Ghana Ali expresses her resentment towards Maryam Nawaz09:12 PM | 28 May, 2022
- Hareem Farooq celebrates birthday in style06:22 PM | 28 May, 2022
- Five best Pakistani YouTube channels that would make your Ramadan ...12:24 PM | 15 Apr, 2022
- Where does Pakistan stand in most powerful passport list in 2022? ...08:37 PM | 5 Apr, 2022
- International Women's Day - Pakistani women who made a mark globally!09:55 PM | 8 Mar, 2022