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Friday, July 19, 2024

Pakistani rupee getting weaker against US dollar

Something happened at the banks this morning. The Pakistani rupee didn’t do well. It went down when compared to the US dollar. By afternoon, everyone was talking about it. The change was clear to see.”

Earlier today, in the main market, something happened to the rupee. Its value decreased a bit. Specifically, it went down by Rs0.26. So, now it stands at 302.26. Quite a change, right?

At our most recent discussion, we couldn’t help but observe a big shift. The currency‘s value had plummeted. It reached its lowest when measured against the greenback. By the end, it settled at a shocking low of 302.

The money in Pakistani rupee faced problems because less money was coming in and the difference between money coming in and going out was growing.

When we purchase a lot from other countries, our local money feels the strain. This happens because many people want US dollars to pay for these items.

The rupee hit an all-time high, reaching beyond Rs315. Just a short while ago, it had fallen by Rs12 compared to the dollar. This happened because the government decided to remove all import limits. They did this to meet the IMF’s wishes

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