Dollar busts previous record, reaches all-time high against rupee amid political turmoil


KARACHI – The US dollar hits an all-time high against the Pakistani rupee on Wednesday, setting a new record in the inter-bank market.

The greenback thrashed local currency in interbank trading and reached Rs290 after a jump of Rs5.16 — an all-time high in trading history.

The local currency suffered heavy losses amid violent protests across Pakistan as PTI activists run riots in several cities on Wednesday.

PKR faced back-to-back blows as the government failed to salvage IMF bailout funds.

Currency exchange rates in Pakistan Today – May 10, 2023