Pakistani rupee hits new all-time low of Rs304.445 after declining by Rs1.38 against US dollar

In the interbank session held on Wednesday, the Pakistani rupee (PKR) exhibited a decline of 1.39 rupees against the US dollar (USD). The closing exchange rate for the day stood at Rs304.445 per USD, in contrast to the concluding rate of Rs303.052 per USD observed in the preceding session.

Throughout the trading day, the currency displayed a fluctuation, reaching an intraday high bid of Rs304.75 while also touching a low ask of Rs304.6.

On a parallel note, within the open market, Exchange Companies set the buying rate for the dollar at Rs320 and the selling rate at Rs323.

Interbank Closing
PKR Declines Further Against USD!
The Pakistani Rupee lost PKR 304.4450 (0.46%) against the US Dollar on DoD basis ending the session at PKR 304.4450/US$.#Pakistan #Currency #ExchangeRate #Dollar #Rupee pic.twitter.com/FBkMR64pOu

— Capital Stake (@CapitalStake) August 30, 2023

In the ongoing fiscal year, the Pakistani rupee has experienced a depreciation of 18.45 rupees against the dollar, amounting to a 6.06 per cent decrease. Concurrently, within the current calendar year, the PKR has depreciated by 78.01 rupees, reflecting a substantial decline of 25.63 per cent.