It appears that the Pakistani rupee is poised to shatter previous records and reach an new all-time low, as the local currency continued its decline against the US dollar on Wednesday, decreasing by 1.16 per cent in the inter-bank market.

By the end of the day, the rupee settled at Rs294.93 against the US dollar, marking a decline of Rs3.42, as reported by the State Bank of Pakistan (SBP).

This represents its lowest point since May 11 of this year, when it hovered near Rs299.


Just one day prior, on Tuesday, the rupee also experienced a setback against the US dollar, concluding at Rs291.51.