What happened: The United States Dollar (USD) touched an all-time high versus the Pakistani rupee after rising by Rs0.47 in the interbank on March 15. Details: The US dollar rose Rs0.49 to Rs178.98 on the first day of the week, from Rs178.51 the previous day. The dollar briefly touched Rs179 in the interbank market during the day. The US dollar rose to an all-time high against the Pakistani rupee in the interbank market on March 9, according to forex dealers, with the greenback’s value surging by 0.2 paisa to close at Rs178.63. What you need to know: According to data released by the central bank, the foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased by $250 million to $16.212 billion during the week ending March 4. Why it matters: The reduction in reserves was attributed to external debt and other obligations, according to the report. As of March 4, 2022, the country’s total reserves, including net reserves held by commercial banks, totaled $22.668 billion, according to the SBP.