Dollar increases 26 percent in 2018 against Pakistani rupee
The appreciation of dollar increased debt burden by Rs2400 billion.
KARACHI (Dunya News) – The value of Pakistani Rupee has depreciated by around 26 percent over the year, as the greenback strengthened by Rs28.36, from Rs110.5 per USD on January 1, 2018 to Rs138.8 on Monday.
The heaviest round of depreciation occurred in October when the greenback gained over PKR 9 at the interbank market, taking a leap from Rs124.3 USD to Rs133.6 per USD.
The rupee had plunged to a historical low on occasion of government’s announcement to approach the International Monetary Fund (IMF) for a bailout, given that at least 15 percent currency devaluation was recommended by the IMF.
The appreciation of dollar increased debt burden by Rs2400 billion.
