KARACHI: Despite an agreement with the International Monetary Fund (IMF) to revive Pakistan’s debt program, the rupee continued to depreciate, with the dollar hitting an all-time high in the interbank market.
The beginning of the business day on Tuesday also saw an increase in the value of the dollar, and the dollar once again crossed the country’s highest level of 222 rupees during the trade.
On Monday, the dollar closed at 215.20 rupees at the end of the business, but on the second day of the business day, it increased by 6.90 rupees to 222 rupees 10 paise.
On the other hand, record remittances of 31 billion and 20 million dollars were received from overseas Pakistanis during the last financial year.
According to the State Bank statement, during June 2022, a total of 2 billion 76 million dollars of remittances were received from Pakistanis living around the world. The volume of remittances received in June was 18.4 percent higher on a monthly basis than 1.7 percent on a yearly basis.
