Islamabad, 30 January 2023 (GNP): The Pakistani rupee rate dropped by Rps 6.5 to the dollar (2.32%) in today’s interbank market activity, reaching a new record low of Rps 270.
In an effort to persuade International Monetary Fund (IMF) officials to resume the $7 billion loan programme, the coalition government relinquished its control over the rupee’s value, which led to a wild decline in the rupee’s value. The local currency fell by Rps 7.17 on Friday, reaching a record low of 262.6 versus the dollar.
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According to statistics from the State Bank of Pakistan (SBP), the rupee has now fallen by a total of approximately 14%, or Rps 36, during the past three days, from its closing value of Rps 230.89 to the dollar on Wednesday.