KARACHI: August 15, 2023: The rupee depreciation is continuing as Pakistan’s policy-makers are hardly worried about sinking economy. The rupee is continuously downing against US dollar and it has unleased an unending economic crisis and its only losers are the people of Pakistan who are being grind by unbearable price-hike.
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 today by All Pakistan Currency Dealers Association (APCDA) said in the open market USD-PKR parity moved up to Rs 294.50 (buying) and Rs 297.00 (selling) against last day’s closing rate of Rs 291.75 (buying) and Rs 294.75 (selling) respectively .
In interbank, USD remained comparatively less bullish as it made a meagre gain of Rs 0.75 only and it’s trading at Rs 288.25 (buying) and Rs 290.00 (selling) against the last day’s closing rates of Rs 287.25 (buying) and Rs 287.75 (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 79.00 (buying) and Rs 79.80 (selling). UAE dirham is valuing at Rs 82.20 (buying) and Rs 83,00 (selling) respectively.
Euro is trading at Rs 323.70 (buying) and Rs 327.00 (selling) respectively. UK pound sterling is trading at Rs 376.20 (buying) and Rs 380.00 (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.