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KARACHI: The rupee on Friday plunged to a fresh low at 180.57 against the US dollar after a day-on-day depreciation of 50 paise in the interbank market.
The local currency for the first time crossed the 180-level on Thursday amid mounting geopolitical tensions in the wake of the Russian war against Ukraine.
Currency dealers said the impact of the free-float exchange rate is visible while the State Bank of Pakistan still struggling to get a hold on the situation.
The greenback was traded at Rs177.41 on March 1 while it was closed at Rs180.57 on Friday, an appreciation of Rs3.16 or 1.78 per cent in the ongoing month.
Published in Dawn, March 19th, 2022
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Comments (3) Closed
Mar 19, 2022 08:36am
Thank you Niazi
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Mar 19, 2022 11:37am
It is expected that a dollar will cross Rs 200 before the end of 2022.
The rupee-dollar parity is unimaginable though the reason for the flight of dollar may be any reason but the bottom line is the value of rupee is depreciating day by day which is creating more problems for the country's economy.
Financial Managers should look into this matter seriously so that Pakistan should not face further losses while paying instalment to IMF.
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Mar 19, 2022 12:05pm
@Mehngai Khan , wake up and think again. Corrupt Nawaz Shrief government has done economics devastation on our economy. Don’t blame all on government! Thanks
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