ISLAMABAD: On Thursday 26 March 2020, the value of the US dollar has risen to Rs. 166 having an increase of 4.4 Rupees. This has resulted in a major collapse of Pakistan rupee in the interbank market.
According to the rates provided by the state bank of Pakistan on Tuesday, the US dollar has increased from Rs. 159 to Rs. 161.6 on close of business.
In the first 20 days of this month, the latest data of State Bank of Pakistan has revealed the range of investement being raised to $1.614 billion. In the papers issued by the government, the net foreign holdings have been taken down by investement from $3.4 billion to $1.461 billion.
From 9 March, there has been a huge collapse in the currency after almost six months of calmness, when rupee collapsed to 3.65 in just a day.
After then today is the day when the rupee has experienced a collapse of total Rs11.75 in a year from Rs. 166 to Rs.154.25.