20 July,2022 , 02:37 pmAdmin

Pakistani Rupee Drops to Record Low versus US Dollar at 224

Another major hit to the economy of Pakistan came that the Pakistani rupee was slashed on Wednesday to an all-time low of Rs226 against the US dollar.

The reason for this is that the world's credit rating agency has downgraded the forecast of the South Asian country to negative from stable. The rate was up by Rs4.01 from the previous close to Rs221.99 to a dollar an all-time record. This is the largest single-day decline over the past three years.

The local currency has seen a loss of Rs49.25 in value since January, and we are likely to see more of this in the near future.

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