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30 July,2022 , 07:17 amAdmin

Google Glitch: USD to PKR Exchange Rate Displayed at Rs. 207.10

Google Currency Converter suffered a technical glitch Thursday. It displayed an incorrect value for the Pakistani rupee compared to the dollar on July 28, 2022.

As concerns about Pakistan's economic fragility remained, the local currency fell to a record low of 240 in the interbank market on Thursday.

According to the State Bank of Pakistan, the rupee settled at 239.94. This is a daily fall of Rs3.92 (or 1.63%) against the US dollar.

The Google Converter however showed PKR at Rs207.10 per USD, which left people puzzled.

This month's USD-PKR conversion was last seen at around 207. The local currency has declined by almost 14% since then.

Just last week, the rupee experienced its worst weekly fall in over two decades as it shed 8% of its value to the dollar in five sessions.

The rupee fell nearly 5% during this week with only one session remaining.

Low foreign exchange reserves of the SBP, which have fallen to $9 billion, are the main reason for the pressure on the rupee.

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