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US dollar hits record high against Pakistani rupee

us dollar

KARACHI: The US dollar hit record high against the Pakistani rupee on the first day of the trading week, The greenback hit Rs169.60 against the Pakistani rupee in the inter-bank currency market. 

The local unit saw a new all-time inter-day low of Rs165.65 before closing at Rs169.60 against the greenback.

The rupee registered depreciation of 52 paisas over Friday’s close of Rs169.8, according to the State Bank of Pakistan (SBP).

In the open market, however, the rupee closed at Rs171 against the US dollar. The previous all time-low was Rs169.12.

The rupee skidded to a record low of Rs169.12 on Sept 16 before recouping some losses after the intervention of the central bank.

The dollar has appreciated Rs17.32 against the rupee over the past four months.

The analyst expects the currency to consolidate after the scheduled review of the International Monetary Fund (IMF).

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