Rupee’s downward spiral continues against US dollar

Pakistani rupee dropped to another record low on Wednesday, as it hit a new all-time low at Rs182.71 against the US dollar in the inter-bank market, according to media reports.

According to forex dealers, the value of the greenback surged by 39 paisa and is currently trading at Rs182.71 in the interbank market.

In the open market, the US dollar is trading at Rs183.20 against the local currency.

On Tuesday, the domestic unit ended at Rs182.34 to the dollar in the interbank market.

Experts say political chaos in the country and uncertainty surrounding the seventh review of the $6 billion International Monetary Fund (IMF) loan program are keeping the rupee under pressure.

Monitoring Desk
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