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Pakistani rupee in free-fall as dollar crosses critical Rs200 mark in interbank market

12:42 PM | 19 May, 2022
Pakistani rupee in free-fall as dollar crosses critical Rs200 mark in interbank market

KARACHI – As Pakistan’s economy continues to plunge with every passing day, dollar set another record as it crossed critical threshold of Rs200 during intraday trading after rupee shed Rs1.61 on Thursday. 

The greenback hit the all-time high level at 11-00 am amid Pakistan’s efforts to secure a tranche of $900 million from the International Monetary Fund (IMF) under the stalled $6 billion loan programme. 

A day earlier, the US dollar closed at Rs199 after gaining more than Rs2 in the interbank market. 

The greenback gained Rs7.38 in running week and Rs16.97 since the new government came into power in April.

On the other hand, Prime Minister Shehbaz Sharif has called a meeting of the economic experts to tackle the freefall of the local currency. 

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PKR exchange rate to US dollar, Euro, Pound, Dirham, and Riyal - 13 April 2024 Forex Rates

Pakistani currency remains largely same against US dollar and other currencies in open market on April 13, 2024.

US Dollar rate in Pakistan

On Saturday, the US dollar was being quoted at 277.4 for buying and 280.65 for selling.

Euro was quoted at 299.95 for buying and 302.9 for selling while British Pound stands at 349.5 for buying, and 353 for selling.

UAE Dirham AED was at 75.45 and Saudi Riyal's new rates was at 73.30. 

Today’s currency exchange rates in Pakistan - 12 April 2024

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