Pakistani rupee hits an all-time low after the Stock Exchange attack

Must Read

Genocide is the only option in Balochistan – Pakistani Minister declares

A Pakistani minister in Balochistan, who is de-jure head of security apparatus in the region, has declared that genocide...

Aslam Baloch — The Baloch General – TBP Special report

For seventy years, through ups and downs, successes and failures, with rapid and slow pace, the Balochistan’s...

State’s deadly weapon, Shafiq Mengal – The Balochistan Post report

Strings of suicide bombing in Sindh's Shikarpur city and firing incident on BSO azad's rally in Khuzdar got connected...

The Pakistani rupee has depreciated to an all-time low exchange rate against the US-Dollar after the Pakistan Stock Exchange attack in Karachi.

According to the details, the Pakistani currency dropped from the previous exchange rate of 45.58 to 45.64 against the UAE dirham – a significant drop for the large-scale trade. Following the Stock Exchange attack, the rupee once again recovered to its former value.

The Pakistani rupee depreciated by 0.3% against the US dollar, settling at 167.6. The rupee had been sustaining a constant drop in the past five weeks against the American dollar. The Stock Exchange attack in Karachi on Monday exacerbated the drop resultantly, the rupee hit an all-time low value against the dollar.

On Monday, four armed personnel stormed the Pakistan Stock Exchange in Karachi at 10 a.m. The security guards intervened and attempted to stop the attackers. A confrontation broke out between the guards and the attackers and resultantly, the four attackers and six persons from the stock exchange died. The Baloch Liberation Army later claimed responsibility of the attack and said that it had aimed to seriously maim the Pakistani economy.

Related: Gunmen attack Pakistan’s stock exchange, BLA claims responsibility

The Covid-19 pandemic had already strained the struggling Pakistani economy. Due to the ensuing lockdown, business and trade were stymied that which took a considerable toll on the economy. The ongoing depreciation of the rupee is another premonition for the struggling Pakistani economy.

SourceTBP

Latest News

Karachi: Hand grenade attack kills former Rangers officer, SRA takes the responsibility

Unidentified men hurled a grenade at a shop in Sachal area of ​​Karachi, killing an ex Rangers...

RSF: Pakistan must not threaten journalists living abroad

Reporters sans frontières (alias Reporters Without Borders or RSF) released a statement on July 8 where it warned the Pakistani government to...

Karachi: Sindhi political activist forcibly disappeared

Sindhi political activist allegedly abducted by Pakistani forces from Karachi city. According to Voice for Missing Persons of Sindh,...

Balochistan: 949 traffic accidents, 109 deaths and 1433 injuries in June

According to the statistics released by Najeeb Yousuf Zehri, a social worker from Balochistan, 949 traffic accidents have occurred in Balochistan that...

Harnai: Whole family “wiped out” in a “callous” military raid

A head of family, her grand daughter and two other female members of the family have been killed in a raid by...