Wednesday May 25, 2022

Pakistani Rupee Continues To Depreciates Against US Dollar

KARACHI: The Pakistani rupee dropped to a historic low of Rs201.92 against the US dollar on Wednesday as an ongoing political crisis rocked confidence in the currency.

According to data released by the State Bank of Pakistan (SBP) the local currency shed 0.25% against the greenback today.

The rupee has been declining for months, but the fall became precipitous in March when the then opposition parties tabled a no-confidence motion against Imran Khan that led to his ouster.

The ongoing political drama in the wake of PTI’s ‘Azadi March’ added fuel to the freefall of the local currency.

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