Pakistani rupee remains unchanged

Pakistani rupee remains unchanged for the 4^th time in a week against the US dollar in the interbank market during the weekly final trading session.

Pakistani rupee remains unchanged for the consecutive 4^th time. Surprisingly, it has shown 0.00 percent change in its value this week.

However, a minor change in the value was observed on 1^st December as the Pakistani rupee appreciated by only 0.12 percent, and closed at Rs.223.69, State Bank of Pakistan reported.

The rupee closed at Rs. 223.69 in the interbank market on Friday.

Moreover, Pakistani rupee witnessed an increase of 0.11 percent against the greenback.

Pakistani rupee closed at Rs.231.40 on 3^rd Dec 2022, according to the Forex Association.

Additionally, the Pakistan’s reserve has been on a constant decline. The SBP foreign exchange reserve declined by $327 million per week. Therefore, there is a $7.5 billion total decline in the Pakistan foreign exchange reserves.

Unfortunately, this drop is the lowest in three years and a low reserve means further depreciation of the rupee value.

Pakistan is heavily dependent on the inflow of dollar in form of loans in order to stabilize its balance of payments. Therefore, it needs to halt the decline or the pressure of the rupee with continue.

Following is the list of some major currencies and their exchange rate against Pakistani rupee

In Pakistan, you can exchange your currency from the following:

• Western U Dollar East Money Changer
• Pakistan Currency Exchange Co Pvt Limited
• AA Exchange, Lahore
• Paragon Exchange, Lahore
• Habib Qatar International Exchange Pakistan
• Wall Street Exchange Co Pvt Ltd
• Ravi Exchange, Lahore
• Pay Exchanger, Lahore
• Link International Exchange Co Pvt Ltd
• Apni Exchange, Lahore