The Pakistani rupee has been negatively affected for the fourth day in a row. When the US dollar took on other currencies, it was hard to stop its rollercoaster rise.
Intrabank traders bought and sold greenbacks on Thursday, and the dollar quickly rose to Rs187.25, a rise of Rs1.33.
As soon as the US dollar crossed the Rs187 mark, it did so with a healthy gain of Rs1.33. On the last day, the closing rate was Rs185.92.
The value of the greenback rose for the fourth day in a row after it lost a lot of value against the Pakistani rupee last week.
The US dollar has gained five rupees and 70 paisas in the last four days of business.
As soon as the new government came into power, the US dollar lost almost eight rupees against the Pakistani rupee. Before that, the American currency was moving toward the Rs190 level against the Pakistani rupee.
People who work in economics thought that the Pakistani rupee was under a lot of stress because of the country’s huge import bill and debt payments.
Because of upcoming talks between Pakistan and the IMF, the US dollar rate went up again (IMF).
To say it another way: The 7th Pakistan-IMF review talks started in Washington DC last week.
Federal Minister for Finance Miftah Ismael also flew to the US to join the talks, which will go on until April 24. The State Bank of Pakistan governor, Raza Baqir, has already arrived in Washington.
