The Pakistani rupee plunged beyond Rs209 against the US dollar for the first time in the inter-bank market recently. Cumulatively, the rupee has dived 33% (or Rs51) in the past one-year to date compared to Rs157.54 on June 30, 2021, according to its central bank data. The latest drop in the currency is recorded after the country's foreign exchange reserves slipped to a 34-month low at $9 billion, strongly hitting the worsening balance of international payment crisis. Pakistan has sought US help to revive the International Monetary Fund (IMF) loan program which has remained stalled for the past one-year. The uncertainty of the IMF program has kept the foreign exchange inter-bank and stock markets jittery.
Thursday, June 04, 2026
