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

Quetta: Nurses protest, Police stops them entering red zone areas

In capital city Quetta, the nurses staged a protest demonstration against persistent delay in payment of their...

Civilians paying the price of conflict in Afghanistan, says Red Cross

The International Committee of Red Cross said in a recent media statement that Afghanistan is now among the deadliest places in the...

Nine killed, three injured in firing incidents and accidents in Balochistan

At least nine individuals, including a woman, died and three others were critically wounded in firing incidents and different accidents in various...

Baloch armed group destroys cellular tower in Kalat

In the Johan Gazg area of Kalat, unknown armed men bombed a cellular tower and destroyed all its machinery, suspending mobile signals...

Balochistan: Military operations continue in Hernai and environs

The Pakistani security forces are reportedly conducting a large-scale military operation in the Harnai district and its environs for undisclosed reasons. The...