KARACHI – US Dollar delivered another blow to the Pakistani rupee in the interbank trading on Monday.
Data shared by State Bank shows the US dollar hit an all-time high against Pakistani rupee on Monday, setting new record.
PKR moved down to an all-time low and settled at 302 rupees.
Interbank closing #ExchangeRate for todayhttps://t.co/WpF9PYlRM9#SBPExchangeRate pic.twitter.com/hOkqhsgiiG
— SBP (@StateBank_Pak) August 28, 2023
In previous session, the dilapidated demonstrated consistent weakness, facing blows in all trading sessions as the pressure mounted.
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.
