Rupee Falls to A Historic Low as Market Remains Volatile

Pakistani rupee continued to slide down against the dollar after Eid, reaching new all-time lows in the interbank and in open markets today.

The Pakistani rupee continued to weaken, shedding an additional Rs. 1.33 against the US dollar, which was being traded at Rs 152.90 in the interbank market as it remained volatile throughout the whole day.

Following the rise in the interbank, the US dollar also strengthened in the open market with a Rs. 1.50 increase and traded at Rs153.50.

The greenback has risen by Rs. 4.30 since the market reopened after the Eid holidays and during June, the dollar has risen by almost Rs. 4.88. The Pakistani rupee has witnessed volatility in the interbank and open market during the last few weeks.

However, the stock market saw a bullish trend today as the Benchmark index, KSE-100 closed at 35,403 points, up by 465 points or +1.33%. Overall, 118.5 million shares were traded in KSE-100 and 154.32 million shares in All Shares index.

  • Maybe we should have selected someone from IMF as our PM than IK. This is a typical IMF budget. This will be the norm for budgets in coming years. IK hasn’t observed anything about governance when he was in opposition. When thieves were looting, he kept quiet. That was the first blunder.

    • nawaz shareef k arrest se rupees ki qadar k brhnay ya ghatnay se koi ta’alluq nai he.

  • Jis din es dumb fu*** Pakistani awam ko ye baat samajh anay lag jai k rupee devalue kar k Foreign Reserves save karna is soooo much more important and crucial when your foreign reserves in state banks and all private banks are at an alarmingly low level.

  • Every time it falls, it is historic low. Please stop using these words to make the news more thrilling.

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