Wednesday, October 27, 2021

Rupee hits record low against US dollar

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KARACHI: The Pakistani rupee hit a record low of Rs169.60 against the United States (US) dollar in the inter-bank currency market on the first trading day of the week.

The local unit saw a new all-time inter-day low of Rs165.65 before closing at Rs169.60 against the greenback.

The rupee registered depreciation of 52 paisas over Friday’s close of Rs169.8, according to the State Bank of Pakistan (SBP).

In the open market, however, the rupee closed at Rs171 against the US dollar. The previous all time-low was Rs169.12.

ALSO READ: FBR DENIES DOLLAR SMUGGLING, SAYS TRADE WITH AFGHANISTAN ONGOING IN RUPEE  

The rupee skidded to a record low of Rs169.12 on Sept 16 before recouping some losses after the intervention of the central bank.

The dollar has appreciated Rs17.32 against the rupee over the past four months.

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