Pakistan

Rupee takes a hammering, falls to historic low of 255 against dollar in interbank

KARACHI: Following the removal of an unofficial cap on the dollar exchange rate, the rupee took a massive hit against the greenback in the interbank and open markets on Thursday.

The rupee nosedived in the interbank market during intraday trade today as it depreciated by more than Rs24 — lowest since July 2022.

Rupee takes a hammering, falls to historic low of 255 against dollar in interbank
For the last few months, the local currency was maintaining its position in the interbank market and was not depreciating as analysts expected, leaving many to believe that the government was managing the exchange rate.

A day earlier, State Bank of Pakistan data showed that the dollar closed at Rs230.89.

However, the greenback was being traded at Rs255 in the interbank market during intraday trade today.

Related posts

Judiciary being blackmailed to stop elections from happening: Imran Khan

Daily News

Nation celebrates Pakistan Day with traditional zeal

Daily News

In NSC meeting, security agencies reiterate ‘no foreign conspiracy’ against PTI govt

Daily News

Pakistan’s parliament unanimously approves resolution condemning blasphemous French cartoons

Daily News

At least 19 killed as boat capsizes in Indus River near Sadiqabad

Daily News

Imran Khan’s convoy reaches Islamabad

Daily News

Leave a Comment