Karachi (HRNW) The value of the US dollar against Pakistani rupee has started to rise once again and with a major depreciation in the rupee value on Tuesday it seems to head towards breaking the State Bank of Pakistan’s benchmark for the greenback.
The central bank had said that the rate of the US dollar should not go above Rs185 for market-to-market rates till June 2022. The US dollar, however, crossed that mark earlier this month amid political turmoil in the country.
The rupee stablised last week and the US dollar dropped to 182 last week. However, the foreign currency is on the rise again this week.
According to the data shared by the SBP, the value of local currency depreciated 1.03% (or Rs1.9) against the US dollar in the interbank market on Tuesday and the US dollar was being traded at Rs184.44.
In the open currency market the dollar made increased by Rs2 to close at Rs 185.
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