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Pakistani rupee also crashed against the dollar, reached the lowest level of 222 today

Pakistani Rupee Vs Dollar: A record fall was recorded in the Indian rupee today. On Tuesday (July 19), the Indian rupee fell to an all-time low of 80.05 rupees per dollar. However, the situation in neighboring Pakistan is far more critical. Tuesday also brought bad news for the Pakistani economy, which is facing many challenges on the economic front. A record fall was recorded in the Pakistani rupee for the second consecutive day.

On Tuesday, the Pakistani rupee reached Rs 222 per dollar in the Interbank Market, which is the lowest level of the Pakistani rupee. According to ‘The Dawn’, according to the Forex Association of Pakistan (FAP), the greenback was up by Rs 6.8 or 3.1 percent against the previous day’s Rs 215.20, reaching Rs 222 around 1 pm.

Due to these reasons, the fall in the Pakistani rupee
Saad bin Nasser, Director of Metis Global, said that “the interbank market is largely dominated by banks. [डॉलर की] The rupee is seeing a depreciation due to buying. He said that after the by-elections in 20 seats of the state, there is panic in the financial markets due to the possibility of change of government in Punjab and the Centre.

Let us tell you that in the by-elections, PTI registered a thumping victory against the PML-N which leads the ruling coalition. After the victory, PTI has demanded an early election.

Naseer further said that the downgrading of Pakistan’s outlook from stable to negative by Fitch Rating Agency further added to the panic in the market.

Besides, he said, the demand for dollars among importers had also “increased” as the future of inflows from International Monetary Fund (IMF), friendly countries and bilateral sources remain a matter of concern.

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