The USD to PKR ratio is on a constant rise as the Dollar rate in Pakistan reach a new high in interbank market.
The Dollar rate in Pakistan or USD to PKR is now Rs 157. It was being traded at about Rs. 156.50 in the open market. On Thursday, the Pakistani rupee continued to weaken against the US dollar, shedding Rs. 1.33 in the interbank market.
The State Bank of Pakistan (SBP) reported that “during the week ended June 3, 2019, the SBP’s reserves decreased by $55 million to $7.8 billion due to payments on account of external debt servicing.”
The demand for the dollar has increased, putting the interbank market under pressure, whereas the open market is just mimicking the former.