PKR touches another all-time low

March 27, 2020 (MLN): PKR touched another all time low during the Friday session when it fell to 170.50 against the dollar.

However it recovered slightly and was currently being quoted around 168.25/168.75

The volatility in the local currency is primarily being caused by the withdrawal of funds from T-bills by foreign investors via SCRA.

Moreover, the decline in SBP’s reserves by USD 800 million in two weeks exerted further pressure on the domestic currency.

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Posted on: 2020-03-27T10:44:00+05:00