PKR falls to a new record low against US Dollar

PKR falls to a new record low against US Dollar on Tuesday, sliding by Rs1.52 against the dollar in interbank!

The local currency plunged to a historic low, depreciating by 0.6% against the US dollar in the interbank market due to an easing in import restrictions that have lifted demand for the dollar.

• The greenback was changing hands in the interbank market at a record Rs298.65 at around 1 pm.
• In the open market, the dollar was changing hands for Rs306.

Pakistani Rupee fell by 1.87 against the greenback which was exchanging hands at 299 during the intraday trade, according to the Exchange Companies Association of Pakistan (ECAP).

The PKR’s previous record low was 298.93, which was hit on May 11.

Yesterday, the local currency closed at Rs297.13, rising by Rs1.35 from the last week’s close of Rs295.78, according to data shared by the Exchange Companies Association of Pakistan (ECAP).