Pakistan Rupee: Dollar Goes High, Shatters All Previous Records
Dollar exchange rate “improved” all the previous records, as the interbank rate climbed up to Rs162.67, an increase of Rs5.2 in single day after trading began on Wednesday.
However, there has been some fluctuation in the price later in day as it was recorded Rs161.5 in the afternoon. Meanwhile, dollar is being traded at Rs162.15 in open market.
Since in June 1, dollar price has gone up by Rs 13.58 and in the process added Rs 1325 billion to national debt, experts say.
There has been strong reaction to the continuous slide, as PML-N leader Maryam Nawaz said historic incompetence and failure had engulfed Pakistan.
Only in the month of June dollar has gone up by 13.58 adding 1325 billion to our debt. Historic incompetence & failure engulf Pakistan. https://t.co/fdliybZSxL
— Maryam Nawaz Sharif (@MaryamNSharif) June 26, 2019
Earlier in the day, she shared some latest news items in a tweet.
آج کی خبریں ! pic.twitter.com/2CmAXFaaQJ
— Maryam Nawaz Sharif (@MaryamNSharif) June 26, 2019
Senior party leader Khawaja Asif was among those who shared their views on the topic.
Dollar at interbank up by PKR 4.52
Dollar at interbank trading at PKR 161.50
Dollar up by 2.9%
Dollar in June up by PKR 13.58
Debt burden up by PKR 1,325 billion
Dollar at interbank on Tuesday closed at PKR 156.98
GOD help us…— Khawaja M. Asif (@KhawajaMAsif) June 26, 2019
On the other hand, senior journalist Nadeem Malik said Rupee-Dollar parity at Rs160 for one US dollar was paving the way for the agreed exchange rate ahead of the budget approval and the upcoming IMF board meeting.
It’s too much devaluation and hyper interest rate, which triggered inflation and slowed down growth, he added.
Rupee-Dollar parity at Rs 160/$ paving the way for agreed Exchange Rate ahead of the budget approval and upcoming board meeting of the IMF.
It’s too much devaluation and hyper interest rate, which triggered inflation & slowed down growth. #Pakistan— Nadeem Malik (@nadeemmalik) June 26, 2019
Meanwhile, some people still can find space for satire even amid the toughest challenges.
#Rupee against #Dollar pic.twitter.com/jLGY9u9nDa
— MUMTAZ (@ANKIANOON) June 26, 2019
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