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Tuesday, November 5, 2024

Home Business Rupee nears record low of Rs300 against US dollar in interbank market

Rupee nears record low of Rs300 against US dollar in interbank market

by Our Correspondent
August 22, 2023
in Business

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KARACHI – Pakistan rupee continued its free fall for second consecutive day of the running business week against the US dollar in interbank and open markets.

During intraday session, the local currency depreciated by Rs1.68 as the US dollar is being traded at Rs298.81 in the interbank market.

In the open market, the greenback further strengthened by Rs2 to drop to historic low of Rs306 amid fears of more devaluation of the local currency.

More to follow…