KARACHI: August 16, 2023: The rupee lost Rs 3 in open market and Rs 2 in interbank against US dollar on Wednesday. The downfall of the rupee is continuing as Pakistan’s policy-makers are hardly worried about sinking economy. Since coming in of the caretaker prime minister, Anwaarul Haq, the local currency has lost over 6 rupee. Since the caretaker prime minister is searching for his cabinet, the local currency is witnessing a free fall and it is making the national economy prone to further fall in coming days. Meanwhile, shocking increase in petroleum products has made the people mentally sick. They are unable to understand as to what are the priority of the new setup picked up by unseen forces for revival of the national economy.
Pakistanis are braving 30 percent plus inflation and there seems no chances of its going down in the recent past. Interestingly, the policy-makers are not in a mood to take corrective measures to save the people from killing inflation. Rather they are enjoying pleasure lives by having free power utilities, gas petrol etc.
The data released by All Pakistan Currency Dealers Association (APCDA) today noted USD-PKR parity moved up to Rs 299.00 (buying) and Rs 302.00 (selling) in open market against last day’s closing rate of Rs 297.00 (buying) and Rs 300.00 (selling) respectively.
In interbank, USD made a gain of Rs 3 and its trading at Rs 292.00 (buying) and Rs 293.30 (selling) against the last day’s closing rates of Rs 289.00 (buying) and Rs 292.00 (selling) respectively.
Other major currencies also showed upward trend at the closing of the first trading session today. At the end of the first session, Saudi Riyal was trading today at Rs 79.50 (buying) and Rs 80.80 (selling). UAE dirham is valuing at Rs 82.50 (buying) and Rs 83,30 (selling) respectively.
Euro is trading at Rs 324.80 (buying) and Rs 328.00 (selling) respectively. UK pound sterling is trading at Rs 377.20 (buying) and Rs 381.00 (selling) and AUD valued today at Rs 200.00 (buying) and Rs 203.00 (selling). CAD was trading at Rs 221.00 (buying) and Rs 224.00 (selling) respectively. Chinese Yen was trading at Rs 42.00 (buying) and Rs 44.00 (selling) respectively.
