Pakistani rupee plunges to new record low against US dollar
- By Web Desk -
- Dec 28, 2021
KARACHI: The Pakistani rupee once again plunged to another record low against the United States (US) dollar in the interbank currency market on Tuesday.
The domestic currency closed at Rs178.19 against the greenback, according to the data shared by the State Bank of Pakistan (SBP).
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The rupee recorded depreciation of two paisas compared to the previous close of Rs178.17.
Interbank closing #ExchangeRate for today: https://t.co/zv6bO4Bb0w pic.twitter.com/JbjShUZ2vP
— SBP (@StateBank_Pak) December 28, 2021
Earlier, the State Bank of Pakistan (SBP) tightened the rules governing the sale and purchase of foreign exchange in an effort to discourage “speculative” buying and selling of the US dollar.
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The central bank said all exchange companies will have to ensure that no individual purchases foreign exchange of more than $10,000 per day and $100,000 (or equivalent in other currencies) per calendar year, in the form of cash or outward remittances.