(Infosette News) On Thursday, Google Currency Converter had a technical issue that should have Google Glitch shown the incorrect rate of the Pakistani rupee to the dollar on July 28, 2022.
In the interbank market, the local currency ended the day near 240, another record low, as worries about Pakistan’s precarious economic situation persisted.
According to the State Bank of Pakistan (SBP), the rupee closed at 239.94 against the US dollar, down Rs3.92 or 1.63 percent on the day.
The Google Converter, on the other hand, showed the PKR at Rs207.10 against the US dollar, leaving people stunned.
The USD-PKR exchange rate was around 207 earlier this month. Since then, the local currency has depreciated by nearly 14%.
Last week, the rupee suffered its worst weekly drop in over two decades, losing 8% of its value to the dollar in five sessions.
With one session remaining, the rupee has dropped nearly 5% this week.
The rupee is under pressure due to the SBP’s low foreign exchange reserves, which have fallen below $9 billion.
Google Glitch shows 1 USD to be equal to PKR 207.1, but the real rate was closer to 240 on July 28.
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