KARACHI – Pakistani rupee continued to remain under pressure as it embarked on negative trajectory against US dollar in the interbank and open market.
During intra-day trading, USD touched the highest level in history and moved up by increasing Rs8 to trade at Rs312.
Data shared by the State Bank of Pakistan suggests that PKR moved down by Rs1.87 against the US dollar and settled at Rs299 in the interbank on Tuesday.
In previous sessions, Pakistani currency closed at Rs297.13 on Monday.
Rupee remained under pressure as the country ended all curbs on imports, as earlier Islamabad restricted outflows from its dilapidating foreign reserves.
The removal of those curbs started in June this year as a condition of a $3 billion International Monetary Fund loan programme to help the crisis-ridden economy.
The country is currently being governed by an interim setup while the market is marred by political and economic turmoil.
Rupee nears record low of Rs300 against US dollar in interbank market
