The dollar has risen to an all-time high in Pakistan’s open market, trading above Rs180 on Monday.
The dollar is currently trading at Rs180.50 in the open market but has weakened slightly in the interbank market, where it is currently trading at Rs178.5.
The Pakistan rupee continues to bleed against the dollar and the greenback is flying high despite the measures of the incumbent government to control the further devaluation of PKR.
The SBP’s foreign exchange reserves declined 2.23 percent in the week ended December 17, according to the central bank.
The SBP shared a breakdown of the foreign reserves position, stating that the central bank’s foreign currency holdings were recorded at $18,153.7 million, down $415 million from $18,568.3 million on December 10.