KARACHI: The United States (US) dollar continued its climb against the Pakistani rupee in the interbank currency market on Wednesday.The Pakistani Rupee declined by almost 12 per cent last year. The dollar flight continues despite multiple measures taken by the State Bank of Pakistan (SBP) to stabilise the exchange rate.
اسٹیٹ بینک آف پاکستان (ایس بی پی) کے اشتراک کردہ اعداد و شمار کے مطابق، مقامی کرنسی کے مقابلے میں گرین بیک 176.98 روپے پر بند ہوا، جو کہ 176.72 روپے کے پچھلے بند کے مقابلے میں 26 پیسے اضافے کو ظاہر کرتا ہے۔ فیڈرل انویسٹی گیشن ایجنسی (ایف آئی اے) بھی مسلسل ذخیرہ اندوزوں اور اسمگلروں پر شکنجہ کسنا تاکہ ڈالر کی طلب کو کم کرنے کے لیے اس کے اخراج کو روکا جا سکے۔
Currency dealers claim that “nobody knows where is the boundary of this devaluation of the local currency.” The dollar burst through the Rs. 175 barrier on October 26, creating a new record.
The official agreement to resuscitate the $6 billion Extended Fund Facility has been reached with the IMF and will be signed later this week, according to information disclosed last week by Shaukat Tarin, the Prime Minister’s advisor on finance and revenue.
Mettis Global, an online resource for financial data and analytics, cited Asad Rizvi, the former head of Chase Manhattan Bank’s Treasury, as saying that the PKR, which was holding up quite well after the news of the Saudi deposit, lost approximately 440 paisa in nine days due to delay.
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