Pakistani 212 rupees match 1 dollar!

International Desk: Pakistan's rupee continues to depreciate against the US dollar. The country's currency is depreciating against the dollar almost every day. As a result, the value of the Pakistani rupee has come down to the bottom. On the other hand, the US dollar has continued its upward trend against the rupee. In this South Asian country, buying a dollar in the interbank market now costs more than 210 rupees. However, in the open market this rate is even higher. Never before in history has the value of this Pakistani currency been so low. Pakistani media outlet The Dawn reported this information in a report on Monday (June 20). The US dollar continued its uptrend against the Pakistani rupee on Monday, the report said. The dollar was sold at more than Rs 210 per dollar in Pakistan's interbank market this morning. However, the dollar is being sold at a higher price in the game market. According to the Forex Association of Pakistan (FAP), the Pakistani rupee was trading at Rs 206.75 against the dollar on Friday. However, the rupee depreciated sharply and on Monday morning, the Pakistani rupee depreciated by Rs 2.55 to Rs 210.30 per dollar. However, the dollar was being sold at 212 rupees in the open market of Pakistan at 10:30 am on Monday. Saeed bin Nasir, director of Metis Global, told Dawn.com that the Pakistani rupee was under pressure against the dollar on the first day of the week. News spread last weekend that Pakistan's banks were in a dollar crisis. "There is a shortage of dollars in the banks and the country's foreign exchange reserves are declining," he said. As a result, the rupee continues to have a negative trend against the dollar. Saeed bin Nasir added that the announcement of a revival of the IMF loan program or an update on the flow of money from China could help stabilize the money market. According to Metis Global, market experts say the government should immediately focus on devaluing the rupee by reducing import costs by reducing unnecessary spending. Otherwise, in the absence of an agreement with the International Monetary Fund (IMF), Pakistan's foreign exchange reserves will continue to decline, they warned.