KARACHI – US dollar thrashed the Pakistani Rupee in interbank trade as the South Asian nation faced political turmoil following the arrest of former prime minister Imran Khan.
During the intraday trading, the Pakistani rupee registered further losses against the US dollar, depreciating Rs3.66 in the inter-bank market on Wednesday. The local currency was quoted at 288.50.
On Tuesday, PKR sustained losses against the greenback, settling at 284.84 in the inter-bank market.
The country’s economy has been in turmoil for months in the wake of the acute balance of payment crisis, with its foreign exchange reserves of the central plunging to cover just a month of basic imports.
Amid the economic disaster, the political turmoil further deepened the crisis.
More to follow…
