usd to pkr open market..Dollar Continues it upward trend against Pak Rupee.
It has been predicted the the Pakistani rupee is expected to continue its losing streak next week if the government does not reach an all important agreement with the International Monetary Fund (IMF) for revival of a $6 billion financial package.
The local unit continued making record lows, hitting an all-time record low of 208.75 per dollar in the inter bank market.
The local currency depreciated by 4.89 rupees this week.
Below are the usd to pkr stat’s.
The USD seems uncontrollable against rupee in the coming days too until and unless positive news comes from the IMF.
If the IMF deal is finalized, the rupee may settle at 195-200 per dollar. So the coming week or so is very crucial for Pakistan.
Another notable aspect are the central bank’s reserves dropped that have declined to 2.6% to $8.99 billion as of June 10, covering 1.32 months of imports.
Lets have a look onto Pakistan rupee performance against US Dollar at a glance.
The two major factor’s in rupee massive decline against USD is huge import bill and crude oil price hike globally.