Pakistani rupee falling: Pakistan’s currency, which is facing a financial crisis, has also run out of life. The Pakistani rupee has continued to roll and fall. Now the value of the Pakistani rupee has reached 283 against a dollar. That is, to equal 1 dollar, you have to keep 283 Pakistani rupees. At the same time, currently the value of the Indian rupee is ₹82.14 per dollar.
The State Bank of Pakistan said on Friday morning that the Pakistani currency closed at a low of 276.58 rupees per dollar in the interbank market. This record was at the lowest level. It was further reduced on Friday night and the price of $1 became equal to 283 Pakistani rupees.
Pakistani rupee falls continuously
A day earlier, the price of 1 dollar was equivalent to 271.36 Pakistani rupees. It declined 1.89% on Thursday and the rupee closed with a loss of Rs 5.22. This information was provided in the report by The Dawn, a leading Pakistani newspaper. His report says that when the government held talks with the International Monetary Fund branch in Islamabad, the value of the Pakistani currency was declining even at that time.
Will you receive a quota of 1,200 million dollars from the IMF?
The International Monetary Fund (IMF) delegation has arrived in Pakistan to finalize the ninth review of the $7 billion loan to Pakistan. If this review is successful, it will pave the way for Pakistan to get the $1.2 billion quota. On the other hand, the decision to eliminate the price cap was taken by the government when the country’s economic situation worsened due to the payment of the external debt and the fight against growing inflation.
Foreign exchange reserves $3.09 billion
In addition, Pakistan’s foreign exchange reserves are also running low, with foreign exchange reserves now at $3.09 billion, allowing Pakistan to cover only 18 days of imports, and to avoid a potential default, it needs a bailout from the IMF. the next installment under it.
Also Read: India’s Forex Reserves Rise For Third Week In A Row, Hit 6-Month High