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Rupee hits a new historic low of 181.35 against US Dollar

Rupee hits a new historic low of 181.35 against US Dollar!

On Monday local currency continues to decline against the US dollar in the inter-bank market during intra-day trade despite a decrease in the current account deficit.

Earlier on Friday, the rupee closed at Rs180.57 according to data released by the State Bank of Pakistan (SBP).

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The local currency has devalued by over 12.2% during the current fiscal year.

A widening current account and high import bills have weakened the local currency in recent months.

Saman Siddiqui

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