KARACHI: The Pakistani rupee dropped to an all-time low against the US dollar in the interbank market amid geopolitical situation, ARY News reported on Friday.
According to forex dealers, the value of the greenback surged by 39 paisa and currently trading at Rs180.46 in the interbank market, hitting an all-time high.
The forex dealers have further shared that the greenback is being sold above Rs181 in the open market.
The US dollar on the other day closed at Rs180.07 in the interbank market.
Interbank closing #ExchangeRate for todayhttps://t.co/crDQwomtmF pic.twitter.com/IQOUms60Sh
— SBP (@StateBank_Pak) March 17, 2022
Forex reserves
The foreign exchange reserves of the State Bank of Pakistan (SBP) fell by $381 million to $15.831 billion during the week ended on March 11.
The country’s reserves were at $22.283bn while the holdings of the commercial banks were $6.451bn, according to a statement released by central bank.
The SBP has lost $4.242bn since August 2021 in its reserves.
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