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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