Pakistani rupee sets new record, falls to Rs307.10 per US dollar 

In the interbank market on Tuesday, the Pakistani rupee (PKR) continued to weaken against the US dollar, losing PKR 1.4569 (0.48 per cent) on a day-over-day basis and ending the session at PKR 307.0996 per US dollar.

On Monday, the Pakistani rupee experienced a slight decline against the US dollar, settling at Rs305.64 in the interbank market.

The government has not yet finalised relief measures for the surging electricity bills of consumers, primarily due to disagreement between the federal government and the International Monetary Fund (IMF) regarding the provided data.

On the international front, the US dollar remained strong on Tuesday, while the Australian dollar faced some pressure. Traders were closely monitoring the Reserve Bank of Australia’s upcoming interest rate decision, speculating that interest rates may have reached their peak.