Karachi: Despite an agreement with the International Monetary Fund (IMF) to revive Pakistan’s loan program, the rupee continued to depreciate, with the dollar hitting an all-time high in the interbank market.
At the beginning of the trading day on Tuesday, there was a rise in the price of the dollar and during the trading, the dollar once again crossed the country’s highest level of Rs 217.
In the interbank market, the dollar rose by Rs 2.10 to Rs 217 at 30 paise.
On the other hand, a record remittance of $31 billion 20 million has been 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 remittances were received from Pakistanis residing across the world. Remittances received in June were up 18.4 percent on a monthly basis as against 1.7 percent on a yearly basis.