KARACHI – Pakistani rupee has touched a record low against the dollar in interbank market as the cash-strapped country struggles to unlock critical funding from the International Monetary Fund (IMF).
Ongoing political and economic uncertainty pushed local currency down against the greenback on Wednesday.
Data shared by forex dealers suggest that the rupee lost 21 more paisas in value against the greenback, and was currently being traded at Rs287.50. In the open market, PKR lost over Rs1, a day after depreciating by 0.8 percent.
Pakistani rupee continues to remain under stress as it went from 230.89 to 255.43 in late January as the cap was removed.
More to follow…
