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Tuesday, November 5, 2024

Home Economy Watch Rupee depreciates to historic low; dollar crosses 188 mark

Rupee depreciates to historic low; dollar crosses 188 mark

by Web Desk Staff
April 7, 2022
in Economy Watch

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Islamabad: Amid the political crises in the country, the Pakistani Rupee fell to a historic low, as it was started selling at Rs188.35 against the US dollar during interday trading in the interbank market.

The Pakistani Rupee also lost ground in the open market and currently trading at over 188 against the greenback.

Due to the soaring price of the US dollar, Pakistan witnessed a spike of Rs1200 billion in the total debt of the country.

It is pertinent to know that the recent surge in the dollar price is caused by the ongoing political and constitutional crises in the country. The claim is evident by the fact that since March 4, 2022, the US dollar has increased by Rs10.61.