The interbank market saw a little decline in the value of the US dollar by 13 paisas, and the current exchange rate is Rs278.
The dollar-to-rupee exchange rate has fluctuated significantly throughout 2024, despite the minor decline. These variations have been largely driven by Pakistan’s economic circumstances and International Monetary Fund (IMF) programs.
The dollar has consistently fluctuated since January 1, 2024, following Pakistan’s ongoing IMF debt discussions and reform initiatives. The dollar was worth about Rs 225 at the beginning of the year, but the rupee lost value as the government carried out the IMF-mandated economic changes, which included raising taxes and reducing subsidies.
Due to worries, by the middle of the year, the dollar had risen to Rs300, setting a record high in the interbank market.
