Friday December 31, 2021

PKR Continued to Slide Against US Dollar in 2021

KARACHI: Pakistani rupee strengthened and remained on average at Rs152 against the US dollar till April this year. Since April 2021, however, the currency witnessed a fresh wave of depreciation as it touched Rs156 against the US dollar in June 2021, Rs168 in September 2021 and Rs170 in November 2021. 

In ongoing December, the rupee has reached Rs177 against the US dollar.

This free fall of Pakistani rupee is a major challenge to the economy.

The value of the currency has dropped by 30.5 percent against the US dollar during the tenure of the PTI government. In August 2018, when it came into power, the rupee stood at Rs123 against the US dollar, according to experts.

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