The Pakistani currency is still depreciating as the USD to PKR ratio reached at the highest value.
USD to PKR is now Rs 153 in the open market as the dollar rate in Pakistan increased by Rs 1.36 today. However, the raise of Rs 9.60 is observed in last 4 business days.
On Monday, SBP additionally raised its interest by 150 basis points to 12.25 percent, refering to the pressure of inflation, conversion scale deterioration and a raised financial shortage.
On Friday, USD to PKR came to at Rs 149 in the inter bank market and the Pakistani Rupee picked up by Rs 2.48 in the inter bank market before hitting another high. On Thursday, Dollar rate in Pakistan recorded Rs 148.5 in the inter bank market. On Wednesday, USD to PKR out of the blue came to at Rs 146.25 in the open market.