Price of Dollar Increased by PKR 23.4 in the Last 12 Days

Price of Dollar Increased by PKR 23.4 in the Last 12 Day

In the last 12 days, the dollar price has increased by PKR 23.4. On July 15th the exchange rate was PKR 210.10 for 1 dollar and on the 26th of July, the price rose to PKR 233.5 for 1 dollar. 

Below are the dollar exchange rates for the past 12 days:

#Date Dollar Exchange Rate (Selling)
126, July 2022233.50
225, July 2022230.00
324, July 2022230.00
423, July 2022230.00
522, July 2022227.00
621, July 2022227.00
720, July 2022219.00
819, July 2022213.00
918, July 2022211.50
1017, July 2022211.50
1116, July 2022211.05
1215, July 2022210.10

Why is the Pakistani Rupee Falling Against the Dollar? 

Higher demands, Pakistan’s weak economic status, and rising political instability are to be blamed for the high exchange rates. 

The dollar has come under renewed pressure amid higher demands from importers according to DAWN News.

Bankers have stated that the “import mafia” have practically drowned the national economy and are still insisting on more imports, while the country is on the brink of economic collapse. 

Malik Bostan, the FAP (Forex Association of Pakistan) chairman stated that there is a need to increase dollar inflows to stabilize the rupee.

He added that the central bank should take strict actions against exporters who are refraining from bringing back their proceeds to Pakistan in due time.

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