Monday, August 15, 2022

The dollar reached an all-time high

According to the Forex Dealers Association, the dollar is trading at a new historical high of 227 rupees. Yesterday, the dollar closed at the level of 224 rupees 92 paise.

In Pakistan, the value of the rupee has been falling for the past several months. After the change of government in the country, the value of the dollar has been continuously increasing since April 11. In Pakistan, at the end of the fiscal year ending June 30, 2022, the dollar closed at 204.85.

According to experts, the increasing import bill of the country is the reason for the increase in the value of the dollar. Which has increased due to increase in oil, gas and commodity prices in the global market. Apart from this, the delay in the recovery of the loan program with the IMF and the political uncertainty have also increased the value of the dollar.

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