Islamabad: The rupee had a disastrous year as it kept hitting new lows for various reasons, including political turmoil, smuggling of dollars to Afghanistan, ballooning current account deficit, a booming black market, and a stalemate in the International Monetary Fund (IMF) loan programme. On Friday, the last trading day of the year, the dollar traded at Rs226.43 compared to Rs176.51 on January 4, showing a total depreciation of Rs49.92 or 28.28% in the year 2022. Earlier on July 28, the currency hit an all-time low of Rs239.94 against the greenback, according to the central bank data. Experts earlier predicted that the rupee could recover to around Rs180 against the dollar after the revival of the IMF programme; however, the impasse continues even to date. Our Correspondent
