Pakistani rupee continues to be on slippery ground, hits new historic low of 224.92
KARACHI: There was no respite from the declining rupee trend on Wednesday as the currency dropped to a new all-time low of Rs224.92 against the US dollar in the interbank market due to renewed political volatility.
The rupee nosedived by a whopping Rs2.99, or 1.30%, in a single day to hit an all-time low at Rs224.92 — surpassing the last historic low of 221.99 recorded a day earlier — the data released by the State Bank of Pakistan (SBP) showed.
Analysts attribute the fresh depreciation to the political uncertainty arising out of the outcome of the Punjab by-elections and said the currency market came under renewed pressure in the wake of “political and economic uncertainties".
Rerieved from: geo.tv/latest/428675-pakistani-rupee-continues-to-take-a-hammering-amid-political-uncertainty
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