US dollar Depreciated
The US dollar depreciated further against the Pakistani rupee. Dollar cheaper, Pakistani rupee appreciates The American currency fell by 27 paisa to 281.40 paisa
According to the data released by the State Bank of Pakistan, the dollar became cheaper by 27 paise today in the interbank.
According to the State Bank of Pakistan, at the end of interbank business, the price of one US dollar is 281 rupees 40 paise. Yesterday, the price of the dollar decreased by 5 paisa to close at 281 rupees 67 paise in the interbank.
It should be noted that the dollar became cheaper by 46 paise in the first week of the new year in Interbank.
State Bank of Pakistan
According to data released by the State Bank of Pakistan, the US dollar depreciated by 27 paisa (0.10 percent) against the Pakistani rupee in the interbank exchange.
The central bank’s X (Twitter) message said the US dollar fell to Rs 281.40 from Rs 281.67.
The US dollar fell by 37 paise to Rs 281 30 paise in the interbank market at the start of trading.
It should be noted that on Thursday also, the price of the dollar against the rupee was recorded to decrease by 5 paise, the dollar has become cheaper by 46 paisa in the first week of the new year.
The value of the dollar continues to decline, which has started to recover the value of the rupee.
Declining Dollar value in Pakistan
A declining dollar value in Pakistan can have mixed consequences, offering potential benefits alongside some drawbacks. Here’s a balanced look at both sides:
Potential benefits
- Boost to exports: Pakistani exports become cheaper for international buyers, potentially increasing demand and export earnings. This can benefit Pakistani businesses and create jobs in export-oriented sectors.
- Reduced import costs: The cost of imported goods becomes cheaper, potentially leading to lower prices for consumers and businesses. This can stimulate domestic consumption and investment.
- Improved competitiveness: Pakistani products become more competitive in the global market compared to those from countries with stronger currencies. This can benefit Pakistani businesses seeking to expand their international reach.
