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The rupee lost Rs2 in the interbank market on Thursday, data shared by the State Bank of Pakistan (SBP) showed.
The rupee closed at Rs225.42 per dollar, a depreciation of 0.89 per cent.
The previous session also saw the dollar gain against the rupee by Rs2.
FAP Chairman Malik Bostan said the dollar had been strengthening globally, having gained against 40 currencies for weeks, and its impact was being seen in Pakistan’s currency market as well.
Bostan said the rupee was Rs8 costlier in the open market and urged the government to take measures to narrow down this difference.
“The government should use its diplomatic sources to end the UAE government’s regulation mandating travellers from Pakistan to carry 5,000 dirhams in cash,” he added.
He went on to say that if the promised $4 billion from friendly countries arrives immediately in Pakistan, it would alleviate the pressure on the rupee and help stabilise its value.
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Comments (34) Closed
Sep 08, 2022 12:14pm
Political uncertainty puts huge pressure on currency markets (and stocks). The markets will remain jittery until decisive, free and fair elections are held.
Price hikes and declining rupee value is hurting all people, including neutrals.
It's plain to see this experiment of imposing thugs in Govt badly failed.
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Sep 08, 2022 12:18pm
Just like sunrise, rupee falling has become a daily event , courtesy‘Neutrals’.
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Sep 08, 2022 12:19pm
Shame on Govt strategy. All taken IMF loans goes in vein no stability in PKR currency in future.
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Sep 08, 2022 12:20pm
Our imports not only cover us but also Afghanistan putting extra pressure on rupee. Seeing what Afghani’s did after losing a cricket match, is it still worth it ?
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Sep 08, 2022 12:24pm
Why rupee fall now, when IMF tranche is in the bag?
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Sep 08, 2022 12:54pm
@M. Saeed, Muftah said dollar will stabilize after IMF loan, where is he to answer.
Boasting about doing a great achievement by getting IMF loan and putting burden on common man.
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Sep 08, 2022 01:16pm
Failed government!
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Sep 08, 2022 02:08pm
Not far from 300.
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Sep 08, 2022 02:19pm
PKR should be 300 vs dollar. Country need dollar which they do not have. PDM has destroyed the economy
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Sep 08, 2022 02:25pm
Was bound to happen. Putting a IMF sticky plaster on a bullet wound will not work.
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Sep 08, 2022 02:25pm
Pakistani politicians are hell bent on destroying your country
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Sep 08, 2022 02:26pm
@SH, failed country
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Sep 08, 2022 03:49pm
What else could be expected under the auspices of the ruling junta of three wicked, crooked, liar, bigot and biased musketeers and their corrupt, cunning, cruel, crafty, crazy and criminal cronies in Islamabad, Islamic Republic of Pakistan at this crucial, caviling, carping, compelling and critical point in time and history?
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Sep 08, 2022 04:16pm
Next target 250. Baby steps.
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Sep 08, 2022 04:35pm
By the end of the year it is going to be at a nice 300 mark.
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Sep 08, 2022 05:06pm
Don’t worry everything will be fine. It just a matter of one win in the Asia cup and the economy will be on track
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Sep 08, 2022 06:08pm
@M. Saeed, ... The IMF loan is peanuts. It has little effect on the value of the rupee.
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Sep 08, 2022 06:28pm
IK has created this whole drama to discredit the weak PDM while the country is undergoing worst crisis of our existence, it’s him over the country instead of helping to bring some political sanity and save Pakistan.
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Sep 08, 2022 06:33pm
Inflation rate was uncontrollable by coalition government.
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Sep 08, 2022 06:34pm
Having no any strategies seem by government
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Sep 08, 2022 06:49pm
you have to thank the great bowler,ik,who knows all and will save pakistan from hell
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Sep 08, 2022 07:36pm
Already crossed 250 in open
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Sep 08, 2022 07:57pm
Our neutrals are the new experts on economy. Lt's ask them
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Sep 08, 2022 08:31pm
This shows how much the Pakistani currency has faith on the corrupt government.
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Sep 08, 2022 08:58pm
Inept selectors inept government.
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Sep 09, 2022 12:36am
1 Bangladesh Taka = 2.5 Pakistan Rupees.
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Sep 09, 2022 12:54am
Malik Bostan is our financial advisor of Imported Government and making all arrangements to reach parity of Rs300 to US$.
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Sep 09, 2022 03:31am
300 is only a month away!
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Sep 09, 2022 03:55am
300, anyone?
Going once…..
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Sep 09, 2022 05:34am
@The Philanthropist , O no. The neutrals are the destroyers.
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Sep 09, 2022 05:40am
No one in their right mind is sending 4 billion as they will never get it back
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Sep 09, 2022 05:52am
Bring IK, he'll take it to 350.
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Sep 09, 2022 07:15am
Great job being done by the crooks!
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Sep 09, 2022 07:50am
Where is Miftah and his hollow promises
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