Tag - Rupees

Pakistani rupee depreciated by 30.5% under PTI-led govt.

According to a report in The News, the value of the Pakistani rupee against the US dollar has decreased by 30.5 percent under the current PTI-led government's tenure. Over the last 40 months, the rupee has depreciated dramatically, from Rs123 against the US dollar in August 2018 to Rs177 against the US dollar in December 2021. This is one of the most significant currency devaluations in the country's history. The only other bigger devaluation happened in 1971-72, when Dhaka fell and Pakistan's currency was depreciated by 58 percent against the US dollar, from Rs4.60 to Rs11.10.  

Rupee extends recovery for fifth session, Dollar drops to Rs 170.54

On Tuesday, the Pakistani rupee gained 75 paisas (+0.44%) against the US dollar in the interbank market, marking the fifth consecutive session of advances on the back of the International Monetary Fund's restart of the $6 billion Extended Fund Facility (IMF). The US dollar began at Rs171.29 and closed at Rs170.54, according to the State Bank of Pakistan. The rupee was trading at 171/172.50 per dollar on the open market.