The struggling Pakistani rupee continued to decline against the US dollar, reaching an all-time low of 305 on Thursday in the interbank market.
The Pakistani rupee experienced another intraday decline of Rs0.59 and was quoted at 305.04.
Following the dissolution of the previous government, PKR’s downward trend continued in earlier sessions.
The value of the dollar increased in the last few weeks by over 25 rupees on the open market and by 15 rupees in the interbank market.
The Pakistani rupee was trading around 325 in the open market for customer purchases.
Due to the enormous demand for foreign currency—primarily caused by the need to clear backlog shipments after the government lifted all import restrictions—the local currency is likely to remain under pressure against the dollar.
