Thursday, June 1, 2023

Rupee hits all-time low versus USD

As of the first trading day of the week, the Pakistani rupee had fallen to a record low of Rs169.60 per US dollar in the interbank currency market, according to the Pakistani Central Bank.
The local unit hit a new all-time low of Rs165.65 during the course of the day before closing at Rs169.60 against the greenback.
According to the State Bank of Pakistan, the rupee has depreciated by 52 paisas since Friday’s close of Rs169.8, representing a loss of 52 paisas (SBP).
The rupee, on the other hand, finished at Rs171 per US dollar in the open market on Friday. The previous all-time low was Rs169.12, which was set in 2008.

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