Business news Pakistan

Rupee slumps to an all-time low of 168.9 against dollar

KARACHI: An 85-paisa decline in the inter-bank market due to external payments pressures dragged the rupee to a record low on Tuesday against the US dollar, with the exchange rate sliding to Rs168.94.

The Pakistani currency briefly touched an all-time low of Rs169 in the inter-bank market during intra-day trade, before making a modest pullback from that level.

In all, the rupee dropped 0.5% to Rs168.94 on Tuesday after closing at Rs168.10 on Monday (September 13).

The rupee has now fallen past its previous low of Rs168.43 against the greenback recorded on August 26 last year.

Rupee, slump, an all-time low, 168.9, dollar,

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