The Pakistani rupee is continuing to lose value versus the US dollar. The interbank market on Wednesday noted that the US dollar surpassed its all-time high versus the Pakistani rupee.
During the last four months, the value of the US dollar has increased by Rs16.67. The dollar’s trade in the interbank market ended yesterday at Rs168.94.
After a 0.31 paisa spike today, the value of the US dollar against the Pakistani rupee reached an all-time high of Rs169.25; the previous all-time high was Rs168.95.
Currency dealers, specialists, and analysts blame a multitude of factors for the sharp depreciation of the local currency versus the US dollar, but they believe the State Bank of Pakistan (SBP) has done nothing to stop the depreciation and restore stability.