KARACHI, July 11, 2022 – The exchange rate of Bitcoin (BTC) continued to decline against the Pakistani rupee (PKR) amid ongoing global market uncertainty.
As of 1:38 PM Pakistan Standard Time (PST), the rate of Bitcoin stood at Rs4,234,653.56 in the open exchange market, marking a significant drop compared to Rs4,396,323.09 recorded at the close of trade on July 10, 2022.
The decline represents a depreciation of over Rs160,000 in a single day, reflecting the digital asset’s sensitivity to broader economic trends and investor sentiment. In US Dollar terms, Bitcoin was valued at $20,454.97 at the same time, down from $21,298.95 the previous day.
The continued slide in Bitcoin’s value against the rupee is being closely watched by crypto enthusiasts and financial analysts in Pakistan. The weakening exchange rate indicates volatility not just in the cryptocurrency itself, but also highlights the rupee’s own fragile position in the wake of inflationary pressures and foreign exchange shortages.
While the recent drop in Bitcoin’s value may present buying opportunities for some investors, financial experts strongly caution against making trading decisions based solely on daily fluctuations. “The exchange rate of Bitcoin versus the rupee can be highly unpredictable,” noted a Karachi-based financial advisor. “Anyone looking to invest in crypto assets should consider their risk tolerance and always consult qualified professionals.”
It is important to emphasize that the reported exchange rates of Bitcoin in rupee and US dollar terms are for informational purposes only. These figures do not represent official or regulatory benchmarks, nor are they intended to be used as investment, legal, or tax advice. Potential investors should consult licensed brokers or financial advisors before engaging in any cryptocurrency-related transactions.
As global financial markets remain jittery, the performance of Bitcoin against the rupee will likely continue to experience short-term volatility, influenced by both local currency fluctuations and international crypto market movements.