PKR hits record low amid political crisis
- By Web Desk -
- May 11, 2023
KARACHI: The Pakistani rupee on Thursday recorded all time low against the US dollar with the local unit losing Rs 11.16 in interbank trade, ARY News reported.
According to the details, the US dollar continues to rise on the fourth day of the business week and remains at the highest level.
In interbank trading, the dollar became more expensive, reaching Rs296 at the highest level, meanwhile, selling for over Rs300 in the open market.
Forex dealers stated that the banks are selling dollars to the importers at Rs298, after the decline of Rs11.16 in two days.
A day earlier, the Pakistani rupee hit a new record low against the US dollar on Wednesday with the local unit losing Rs5.16 in interbank trade.
Following the arrest of former Prime Minister Imran Khan, clashes erupted between Imran’s supporters and police. The interior ministry has suspended mobile broadband services in the country.
The PKR was being traded at Rs290 per dollar in the interbank market, a decline of Rs 5.16 from yesterday’s close of Rs284.84.