Dollar rate in Pakistan broke all previous records today as USD to PKR reached at the all-time high value.
USD to PKR or Dollar rate in Pakistan hit Rs 154 in the open market after increasing by Rs 3 on Tuesday (today). The buying rate in open market is Rs 152.5. In the interbank market, Dollar rate in Pakistan is now Rs 151.92 after the raise of Rs 2.72. On the other side, in the last 4 business days, it is increased by around Rs 10.
Yesterday, SBP also raised its key interest rate by 150 basis points to 12.25 percent, citing inflationary pressures, exchange rate depreciation and an elevated fiscal deficit.
On Friday, Dollar rate in Pakistan reached at Rs 149 in the interbank market and the Pakistani Rupee gained by Rs 2.48 in the interbank market before hitting a new high. On Thursday, USD to PKR rate recorded Rs 148.5 in the interbank market. On Wednesday, Dollar rate in Pakistan for the first time reached at Rs 146.25 in the open market. The raise was observed as agreement is finalized regarding the $6 billion IMF loan to Pakistan.