KARACHI: Jan 4, 2023: US dollar is continuously appreciating in local currency market . On Wednesday , US currency continued its gain streak . Its rate in interbank today is Rs 227 in buying and Rs 227.40 in selling. US dollar appreciated by 25 paisa in interbank on Wednesday. In open market US dollar is trading at Rs 233.70 in buying and Rs 236 in selling.
Saudi Riyal is also continuing its upward trajectory. It value today in local market is Rs 66.30 in buying and Rs 67 in selling. It gained 30 paisa in local currency market on Wednesday. UAE dirham rate is Rs 68.30 in buying and Rs 69 in selling today.
According to All Pakistan Currency Dealers Association, Euro rate today is Rs 262.30 in buying and Rs 265 in selling. Pound sterling rate in local market today is Rs 298 in buying and Rs 301 in selling. Japanese yen is also on the gaining spree. Japanese yen rate today is Rs 1.89650 in buying and Rs 1.89650 in selling.
AUD rate today is Rs 167.50 in buying and Rs 169.50 in selling. CAN dollar rate today is Rs 181.50 in buying and Rs 183.50 in selling.
Pakistan’s political crisis is basic reason behind devaluation of the rupee. Pakistan is undergoing serious political crisis and the political leaders are continuously ignoring economic situation on ground. The government too is working in total isolation . Its strategy of controlling US dollar through distortions has proven counter productive so far.
Keeping in view, non seriousness of the political leadership of Pakistan , none of international donor or momentary institution is interested in bailing out Pakistan from current economic crisis.
