The Pakistani rupee couldn’t keep up with the gains of the US dollar, so it went down by 0.37% on Thursday to Rs221.50 on the interbank market.
Even though the Asian Development Bank (ADB) gave Pakistan a $1.5 billion loan on Wednesday, the Pakistani rupee couldn’t hold together because of rising political uncertainty in the country.
According to information released by the State Bank of Pakistan (SBP) on Thursday afternoon, the rupee dropped from Rs220.68, where it closed on Wednesday, to Rs221.50, which is about 82 paisas lower.
The Pakistani currency returned to its old trend against the US dollar on Wednesday when it dropped by 0.43% to Rs220.68.
Earlier on Tuesday, during intraday trading on the interbank market, the Pakistani rupee went up by 68 paisas, from Rs220.41 to Rs219.73. This was because FATF took Pakistan off its list of countries to watch, and ADB gave Pakistan a $1.5 billion loan.
Open Market, The US dollar went up from Rs224.40 to Rs225.40 on the open currency market.
