The US dollar has repeatedly shown that it is the most potent currency in the world, and in Pakistan, it has been completely dominating the money market.
The US dollar gained just 12 paisas as intrabank trading got underway on Tuesday, but that gain brought the American currency to the historic level of Rs 230.
The American dollar increased by Rs1.51 against the Pakistani rupee on Monday, reaching Rs229.88 in interbank trading.
The dollar rate increased during interbank trading up to Rs 232 before falling and closing at Rs 229.88.
In an exclusive SBP podcast, SBP Governor Dr. Murtaza Syed stated that Pakistan had reached the very important milestone of the staff-level agreement with the IMF and that the loan programme is proceeding as planned.
Additionally, SBP Deputy Governor Dr. Inayat Hussain stated in an exclusive interview with SBP Podcast that the rupee had lost 18 percent of its value since December 21 and that 12 percent of that loss was due to a strengthening US dollar globally. There are also domestic factors in play. The gap between supply and demand should soon close, he continued.
