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The US dollar has risen to an all-time high in Pakistan’s open market, trading above 180 on Monday.
The dollar is currently trading at 181.25 in the open market, while the interbank dollar is slightly weakened; trading at 179.6.
Despite the incumbent government’s efforts to prevent further devaluation of the Pakistan rupee, the greenback continues to rise.
According to the central bank, the SBP’s foreign exchange reserves fell 2.23 percent in the week ended 31 December 17.
The SBP released a breakdown of the foreign reserves position, noting that the central bank’s foreign currency holdings were $18,153.7 million on December 10, down $415 million from $18,568.3 million the previous day.
