• July 27, 2022

Another new day of rupee depreciation, new record value of dollar

KARACHI: Pakistan rupee is depreciating and the dollar is increasing with each passing day, the dollar has increased by more than 3 rupees since the market opened.

According to the details, on the third day of the business week, Wednesday, July 27, 2022, the dollar touched a new high in the interbank market.

At the beginning of the day, the dollar became expensive by 7 paisa in the interbank market and then suddenly it became expensive by 1 rupee 57 paisa.

The dollar has increased by Rs 3 77 paise before mid-day and the dollar is trading at Rs 236 70 paisa, the dollar is selling at Rs 238 to Rs 239 in the open market.

It should be noted that during the 3 months of the Shehbaz Sharif government, the value of the US dollar has increased by 54 rupees, which has increased the volume of foreign loans by 4 and a half thousand billion rupees.

Only last week i.e. from 18 to 22 July 2022, the value of the dollar increased by 17 rupees, for the first time in the history of the country, the value of the rupee decreased by 8 percent in a week.

On the other hand, the State Bank says that the Pakistani rupee has depreciated by 18 percent against the dollar since December 2021. If adjusted for inflation, the value of the currency has fallen by only 3 percent.

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