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The Pakistani rupee on Tuesday hit historic low against the US dollar, depreciating 0.58% in interbank.
At close, the rupee was at 299.01, a decrease of 1.88 in the interbank market, according to the State Bank of Pakistan (SBP).
Its previous record low was 298.93, which was hit on May 11.
On Monday, the rupee remained under pressure against the US dollar, as it settled at 297.13.
In a key development, caretaker Finance Minister Shamshad Akhtar held her first meeting on the power sector after assuming charge.
According to the staff report prepared by the IMF staff mission on the SBA for the Fund Executive Board’s, the first of review of the SBA is scheduled for end September 2023 and the visit of the caretaker finance minister to FBR and the meeting on the power sector is being seen in this context.
