The Pakistani rupee is touching an all-time low as the US Dollar rate balloons to 236.02 against the Pakistani Rupee. The free fall of Rupee continues as the dollar rate is consistently increasing because of political uncertainty and clueless decision-making.
Since April 11, the day the new Shahbaz Sharif was sworn in as new Prime Minister, the Pakistani Rupee is witnessing devaluation. Since the ouster of Imran Khan from the PM office, the Pakistani rupee lost 21.3 % value against the US dollar.
On April 11, the interbank value of one US Dollar was 182.93 and today, US Dollar closed at 236.02. In the first three months of the Shahbaz Sharif’s government, the dollar rate witnessed an increase of 53.09 rupees. According to a Bloomberg report, the US dollar rate may touch 275 if political uncertainty persists.
